-The Times of India NEW DELHI: The comptroller and auditor general has initiated an audit of entities claiming tax exemption on agricultural income amid suggestions from some political parties and Income Tax authorities that a blanket exemption be done away with and tax be levied after a threshold. The auditor has written to the finance ministry seeking details of entities which have declared agricultural income and the amount of tax exemption...
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CAG may audit process of black-money scheme, not individual declarations
-PTI New Delhi: The Comptroller & Auditor General of India (CAG) may do a performance audit of the just-ended black money disclosure scheme, but will not get into the disclosures made. As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations in the one-time four-month compliance window provided under the Income Disclosure Scheme (IDS), which closed on September 30. ”The information filed under the IDS is confidential and will...
More »Tax dept unearths Rs 56,378 cr undisclosed income in searches
-PTI NEW DELHI: The Income Tax department has unearthed undisclosed income of Rs 56,378 crore during search operations conducted over two years time and seized cash of about Rs 2,000 crore. Giving details of the steps taken by the government since coming to power in May 2014, Finance Minister Arun Jaitley said with IT upgradation the CBDT has been able to recover Rs 16,000 crore from non-filers of tax returns. Also the government...
More »Govt panel fails to define 'poverty line', says form another group to do the job -Moushumi Das Gupta
-Hindustan Times Just how many people in India are poor? The question remains unanswered with yet another government panel failing to define an official “poverty line”. After a year and half of work , a 16-member task force headed by NITI Aayog vice chairman Arvind Panagariya has failed to reach a consensus and suggested to the government that another panel of specialists be asked to do the job. HT has a copy of...
More »Retaining MGNREGA's core -Brinda Karat
-The Hindu Held to account by the Supreme Court, the Central government is using opaque methods to change the key provisions of the employment guarantee scheme and make it targeted instead of universal. There is a pithy saying in Hindi that the elephant has two sets of teeth, one for show and the other to eat. This seems an apt description of the approach of the Narendra Modi government towards the implementation...
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