Chidambaram for widening tax net
In a strong message to tax evaders, the government on Thursday said that it will step up efforts to bring more people into net and also endeavour to recover tax arrears.business Updated: May 03, 2013 00:46 IST
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.
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.”