-PTI New Delhi: The attachments of over 780 benami assets, worth crores, risk being invalidated because of the government's failure to create a designated adjudicating authority in the 19 months since enforcing a stringent law against black money and corruption. The Centre had amended the Benami Property Transaction Act of 1988 and enforced the tighter version on November 1, 2016, days before Prime Minister Narendra Modi demonetised 1,000-rupee and 500-rupee notes. Section 7...
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In 5 years, 46% hike in base: Tax net widens as individuals fuel the surge -Aanchal Magazine & Anil Sasi
-The Indian Express While the total taxpayer base grew at an average rate of about 7.9 per cent a year, individual taxpayers recorded an average annual growth rate of 8.2 per cent in these five years, inching up from 94 per cent in AY 2011-12 to 94.9 per cent in AY 2016-17, according to official data. New Delhi: Even as the country’s total taxpayer base increased to 6.41 crore in assessment year...
More »Government mops up Rs 26,500 crore from those who didn't file tax returns
-The Times of India NEW DELHI: The government's drive, through a non-filer monitoring system, to target those who indulge in high value transactions but don't pay enough taxes has forced the filing of at least Rs 1.7 crore extra returns and helped the Centre mop up close to Rs 26,500 crore till December. In a written reply, finance minister Arun Jaitley told Parliament on Friday that for the past few years, the...
More »45% Indians paid bribe in past one year: Survey -Rumu Banerjee
-The Times of India NEW DELHI: A survey across 11 states in India by corruption watchdog Transparency International saw 45% of the respondents claim they paid a bribe at least once in the past year to get work done. The share was 43% in a similar survey last year. Nearly 37% of the 34,696 respondents felt corruption had increased, while 14% said it had gone down. Around 45% felt the situation was...
More »Grass or tree?: A rule reclassifying bamboo claims to benefit tribals - but industry will gain more -Nitin Sethi
-Scroll.in At the heart of the problem is a discrepancy between two laws on rights for Adivasis to the bamboo growing on their traditional forestlands. Across the world, taxonomists have classified bamboo as a grass. But under Indian law, it was treated as a tree. This definition has long given state forest departments monopolistic control over the valuable natural resource. On November 23, the central government loosened this grip by amending the...
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