Bring commercial med, edu institutions under tax net: Assocham
Industry body Assocham wants the government to bring educational and medical institutions being run on commercial basis, including such hospitals under the tax net.business Updated: Jan 31, 2010 12:11 IST
Industry body Assocham wants the government to bring educational and medical institutions being run on commercial basis, including such hospitals under the tax net.
The chamber said such institutions earn huge amounts of money but do not pay tax.
"Most education, medical institutions and hospitals are being run on commercial basis and despite huge surpluses, no tax is being offered on such income," it said.
The chamber also said the government should utilise PAN and bank account data to identify individuals to be brought under the tax net, who are still not within it's ambit.
In a representation sent to the Finance Minister, the industry chamber said, "there is an urgent need to utilise the existing data to identify persons who are not within the tax net.
"This needs a very focused strategy and can initially be started as a pilot project in metropolitan cities like Mumbai, Delhi, Chennai, Kolkata," it added.