Advertisement

HindustanTimes Thu,17 Apr 2014

Chidambaram for widening tax net

HT Correspondent, Hindustan Times  New Delhi, May 02, 2013
First Published: 23:17 IST(2/5/2013) | Last Updated: 00:46 IST(3/5/2013)

Addressing the Rajya Sabha on Thursday, finance minister P Chidambaram made a pitch for curbing tax evasion, detailing the government steps to widen the tax net and also recover tax arrears. He also called for a bipartisan approach on economic matters.

Advertisement

He was replying to a discussion on the budget after which the Upper House returned the Finance Bill and other similar bills for completing the budgetary exercise for general as well as railways budgets.

The financial business was passed after opposition parties staged a walkout, as in the Lok Sabha.

The finance minister sent a tough message on curbing the tax evasion: “Between January and March...we issued notices after mining the data and thanks to the advertising campaign, I have added 50 lakh more taxpayers into the tax net over the three-month period. We would like to do the same in 2013-14 and we will add many more (into the tax net)”.

He added, “There are tax payers, tax evaders and those who help the tax evaders. It is a shame that only 42,800 people in this country admit to having more than R1-crore income.”

Advertisement
more from Business

Ranbaxy: From industry poster boy to problem child

For Ranbaxy Laboratories, which is nursing a welter of festering wounds from run-ins with regulators to employee exits and penalties for felonies, a change in ownership marks yet another milestone in its nearly five-decade old history.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved