NITI Aayog tells Centre to review tax exemption on farm income

The Central Goods and Services Tax Act has changed the definition of 'agriculturists'

Sanjeeb Mukherjee  |  New Delhi 

The National Institution for Transforming India (NITI) Aayog has recommended a review of the tax exemption on agriculture income.  In its three-year action agenda, circulated among chief ministers on Sunday, the Aayog said this was necessary as the blanket relief was being misused by non-agricultural entities to generate black money. Officials in the know said the exemption was meant to protect farmers but many non-farmers were declaring agriculture as their source of income to evade taxes. “This loophole needs to be plugged,” the Aayog said.  The ...

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NITI Aayog tells Centre to review tax exemption on farm income

The Central Goods and Services Tax Act has changed the definition of 'agriculturists'

The Central Goods and Services Tax Act has changed the definition of 'agriculturists' The National Institution for Transforming India (NITI) Aayog has recommended a review of the tax exemption on agriculture income.  In its three-year action agenda, circulated among chief ministers on Sunday, the Aayog said this was necessary as the blanket relief was being misused by non-agricultural entities to generate black money. Officials in the know said the exemption was meant to protect farmers but many non-farmers were declaring agriculture as their source of income to evade taxes. “This loophole needs to be plugged,” the Aayog said.  The ... image
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