-The Times of India NEW DELHI: The income tax department identified more than 400 benami transactions up to May 23 and immovable properties were attached in 40 cases valued at over Rs 530 crore as the authorities stepped up their fight against black money. Sources said 200 other properties were also identified as part of an ambitious crackdown on benami assets. They added that searches were conducted on 10 senior government...
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Find ways to tax rich farmers with multiple sources of income: Swaminathan -Vishwa Mohan
-The Times of India NEW DELHI: Amid a growing debate over issue of taxing farm income, eminent agriculture scientist M S Swaminathan on Saturday expressed his views against such tax and said other methods could be explored to tax rich farmers with multiple sources of the income. "I do not agree with tax on agriculture income since agriculture is the major source of livelihood for over 50% of our population. It is...
More »Govt will not impose any tax on agriculture income, clarifies FM Jaitley -Arup Roychoudhury, Sanjeeb Mukherjee & Archis Mohan
-Business Standard NITI Aayog says Debroy's views 'personal' Finance Minister Arun Jaitley said on Wednesday that the Narendra Modi government will not impose any tax on agriculture income. This came after Bibek Debroy, member of the Centre’s main think-tank, the NITI Aayog, seemed to suggest in an interaction with reporters on Tuesday that taxes should be imposed on farm income above a certain threshold to expand the tax base. The Aayog, however, said Debroy’s...
More »Niti Aayog backs tax on agriculture income
-The Times of India NEW DELHI: Niti Aayog, the government's thinktank, has strongly backed taxing of agricultural income above a certain threshold and removal of exemptions on personal income tax as part of a strategy to expand the tax base and prevent evasion. There is a view within the thinktank that the blanket relief on agricultural income was aimed at protecting farmers, but it was being misused by many non-farmers who...
More »Waiting for the Lokpal -Anjali Bhardwaj & Amrita Johri
-The Hindu When will the government operationalise the Lokpal law, even in its diluted form? In a hearing recently regarding non-operationalisation of the Lokpal and Lokayuktas Act, more than three years after the law was enacted, Attorney General Mukul Rohatgi reportedly argued in the Supreme Court that the court has no powers to direct the government on when and how the law should be enforced. Failure to implement the Lokpal law by the...
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