-PTI The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers' salaries. The Central Board of Direct Taxes (CBDT), the controlling and administrative authority of the department, has asked all I-T ranges to identify such cases where revenue implication is large and initiate prosecution in competent courts. The action will be taken under Section 276B...
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Budget 2013: CPI(M) Slams Tax 'Concessions' to the Rich
-Outlook The CPI(M) today castigated the government for foregoing over Rs 5.73 lakh crore as tax revenues by granting tax concessions to the rich, saying the amount was Rs 53,000 crore more than the fiscal deficit. "The budget proposals will further enrich the rich and impoverish the poor," senior CPI(M) leader Sitaram Yechury told reporters while reacting to the 2013-14 Budget. Quoting data presented in the budget, he said the aggregated revenue foregone...
More »Abandoning the Right to Food-Ankita Aggarwal and Harsh Mander
-Economic and Political Weekly The proposed legislation on the National Food Security Act has been steadily watered down since it was fi rst mooted in 2009. The Parliamentary Standing Committee that examined the 2011 Bill has disappointingly continued with "targeting". If the government passes the bill incorporating the committee's suggestions, a historic opportunity to combat hunger and malnutrition would be lost. Ankita Aggarwal (aggarwal.ankita87@gmail.com) is a Research Scholar at the Centre for...
More »Political donations to get transparent
-The Times of India MUMBAI: India Inc has had to wait for nearly three years for the government to roll out the rules relating to the functioning of electoral trusts. The rules have been recently notified and come into effect from January 31, 2013. The 2009 Budget had introduced provisions relating to electoral trusts in the Income-tax Act. It provided for tax exemption to electoral trusts which distribute contributions to political parties,...
More »Only MNS filing tax returns: RTI -Sanjeev Devasia
-DNA If an RTI reply is to be believed, then the Maharashtra Navnirman (MNS) is the only party in the state which is assessed and is filing income tax returns regularly with the income tax department. The reply also says that the party has been receiving donations above Rs20,000, but as parties are exempted from tax on income from donations under section 13A of the I-T Act, no tax is payable...
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