Cases related to the alleged misappropriation of funds related to the Srivani Trust of Tirumala Tirupati Devasthanam dominated the 2024 elections in Andhra Pradesh. file. | Photo Courtesy: KR Deepak
Tirumala Tirupati Devasthanam (TTD) is in a fix regarding the much debated Srivani Trust issues.
TTD chairman BR Naidu, who had earlier promised transparency in the trust’s operations, now faces a challenge as any decision to rename and change the trust is likely to attract 30% to 40% taxes, including goods and services tax. GST) liability, payable to Central Govt.
An internal report by TTD’s chartered accountants suggests a possible financial burden, causing concern to the temple trust board. To address this issue, Mr. Naidu is known to have decided to adopt a cautious and calculated approach.
As a first step, the TTD has constituted a three-member committee of chartered accountants Vinod Singhania of Delhi, Ranganathan of Hyderabad and Chellamani Naresh of Chennai to explore the possibility of changing the name of the trust without attracting GST liabilities. or compromising the financial integrity of the trust.
Based on its recommendations, Mr. Naidu plans to meet Union Finance Minister Nirmala Sitharaman to seek full GST exemption for the trust.
Since assuming office, Mr. Naidu has been vocal in addressing alleged irregularities within the Srivani Trust.
Cases related to alleged misappropriation of trust funds dominated the recent elections with Chief Minister N Chandrababu Naidu and Deputy Chief Minister K Pawan Kalyan, then in opposition, alleging misappropriation of funds, believed to be a factor. Ruined the fortunes of the then YSRCP-led government.
Currently, Srivani Trust has reserves of over ₹1,400 crore. It is alleged that the money allocated for the construction of the temple was temporarily withheld to prevent it from being misused.
Potential data breach
To bring out the truth, the government has also constituted a special team of police officers to investigate any possible data breach and deletion of critical information in the electronic division of TTD, the details of which are yet to be revealed.
One of the major issues under scrutiny is the handling of donor contributions. A pilgrim who purchases a Srivani darshan ticket worth Rs 10,500 is given two tickets – one for Rs 500 on purchase of the darshan ticket and the remaining Rs 10,000 is sent to a trust account, leaving room for doubt among devotees.
To address this, TTD is considering reforms to ensure direct transfer of funds to temple accounts and ensure a transparent billing process.
published – Dec 24, 2024 at 04:09 pm IST