-The Hindu Business Line The former PM added that the economic stimulus that NYAY will provide will further help in fiscal discipline India's nearly $3 trillion economy has the fiscal capacity to absorb the expenditure to fund NYAY, the minimum income support scheme promised by Congress Party, without the need for any new taxes on the middle class, former Prime Minister of India, Dr Manmohan Singh, said. NYAY scheme -- announced by Congress...
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88 lakh missing tax filers in year of noteban: I-T denies, facts don't -Khushboo Narayan
-The Indian Express Stop filers are individuals who filed returns in earlier years but did not do so in the current year even though they are liable to do so. The Central Board of Direct Taxes (CBDT) Thursday said it “does not have any word ‘Stop Filers’ in its glossary and it does not maintain any database of ‘Stop Filers’ in normal course”. This was in response to the April 4 report...
More »No surge in number of I-T stop-filers after demonetisation: CBDT
-The Times of India NEW DELHI: The Central Board of Direct Taxes (CBDT) said on Thursday that the tax base and revenues had increased significantly post demonetisation and there was no surge in the people who stopped filing returns. “CBDT clarified that contrary to the report, it is a fact that demonetization had a phenomenal positive impact on the widening of tax base and direct tax collections,” the tax department said while...
More »88 lakh taxpayers didn't file returns in year of noteban, 10-fold jump over previous year -Khushboo Narayan
-The Indian Express The spike in stop filers, according to officials, could be due to loss of jobs or drop in income due to fall in economic activity following demonetization of Rs 500 and Rs 1,000 notes. Claiming the success of demonetisation in increasing tax compliance, the government said it added 1.06 crore new taxpayers in the financial year 2016-17, almost 25 per cent more than the previous year. Records accessed by...
More »Bonds of secrecy -PDT Achary
-The Indian Express Concealing the identity of donors in electoral bonds goes against a fundamental tenet of democracy — transparency Electoral bonds are attracting attention in the run-up to the general elections. These bonds were conceived in 2017 and the necessary legislative changes were made in the Finance Bill of 2017. For example, Section 31 of the Reserve Bank of India Act, 1924, was amended and a new Clause (3) was...
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