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Bhopal, Jan 2: Suspended IAS couple, Arvind Joshi and Tinoo Joshi will have to pay income Tax and penalties to the sum of at least Rs 45 crore after assets worth Rs 350 crore were retrieved by the Income Tax officials..

If Arvind Joshi’s sister's and father's assets are added with their assets, the taxable amount would increase to about Rs 200 crore. Income Tax Department is reported to have issued demand notices to both of them. Meanwhile, Joshi told the press that he is yet to receive any notice or order.

IT officials had seized crores of rupees from the couple's house. Arvind had served as a Principal Secretary in the Water Resources Department and Tinoo was the Secretary of Women and Child Welfare Department in the Madhya Pradesh government. According to sources, the couple had involved in foreign transactions and floated a company in their son's name with a businessman.[Read More: Major events, top news of 2011].

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