Max 'crorepati' agriculturists in Bengaluru, Delhi and Mumbai

March 15, 2016

New Delhi, Mar 15: Metro cities like Delhi, Mumbai, Kolkata and Bengaluru have the maximum 'crorepati' entities who have declared agricultural income of over Rs 1 crore in the last nine assessment years with the Income Tax department.farmer

The department is conducting a tax evasion probe in a select number of such cases after the taxman was directed in this regard recently.

As per official data in this regard, accessed by PTI, between Assessment Years (AYs) 2008-09 to 2015-16, a total of 321 assesses declared agricultural wealth over Rs one crore in Bengaluru region followed by Delhi (275), Kolkata (239), Mumbai (212), Pune (192), Chennai (181), Hyderabad (162), Thiruvananthapuram (157)and Kochi (109).

Finance Minister Arun Jaitley today said in Parliament that many prominent people are being probed for allegedly concealing taxable income as agricultural earnings as he told the Opposition not to term it as political victimisation if their names come out.

"Many prominent people" are said to be involved and are being probed, he said. "Please don't say it is political victimisation if names come out after that (probe)."

IT department Assessing Officers across the country, as part of a recent directive, have been asked to "verify" a select number of cases in this category under assessment years 2011-12 to 2013-14.

The move came in view of a PIL filed in the Patna High Court where concerns have been raised that some of these declarants could be engaged in routing their un-accounted or illegal funds in the "garb" of farm income thereby leading to instances of money laundering.

Agricultural income is exempt from Income Tax in the country.
The official data in this regard said a total of 2,746 entities have declared agricultural income of above Rs 1 crore in the last nine AYs, between 2007-08 to 2015-16 and a probe has to be conducted for a block period of three AYs (2011-12 to 2013-14).

The department suspects that in many cases where declarants have claimed tax exemption under this category could either be because of a data entry error on their part or a genuine case of tax evasion.

"The taxman has been directed to only probe those cases between AY 2011-12 to 2013-14 which have been selected for scrutiny, based on red flag indicators.

"A report has to be sent to the CBDT by March 20 and it will be subsequently presented to the Patna High Court for further action," a senior official said.

The entire exercise is being undertaken to verify the "genuineness" of the agricultural income claim made by these individuals and entities, he said.

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News Network
January 18,2020

Jammu, Jan 18: Prepaid mobile connections were restored in Jammu and Kashmir on Saturday and 2G services resumed in two districts of the valley after being disconnected on August 5 last year. Voice and SMS facilities were restored for all local prepaid mobile phones across the Union territory.

Rohit Kansal, the principal secretary to the administration of Jammu and Kashmir said the order will come into effect from Saturday.

In order to consider giving mobile Internet connectivity on such SIM cards, the telecom service providers will have to verify the credentials of the subscribers, he said.

Internet service providers have been asked to provide fixed line Internet connectivity in all the 10 districts of Jammu region and two districts, Kupwara and Bandipora, in North Kashmir.

Telecom services were shut in the entire Jammu and Kashmir on August 5 when the Centre abrogated special status to the erstwhile state and also bifurcated it into two Union Territories.

However, the Supreme Court came down heavily on the UT administration last week for arbitrarily shutting down the Internet, the facility described as the fundamental right by the apex court.

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News Network
July 10,2020

London, Jul 10: India's Reliance will load its first cargo of Venezuelan crude in three months this week in exchange for diesel under a swap deal the parties say is permitted under the US sanctions regime on the Latin American country, according to a Reliance source and a shipping document from state oil firm PDVSA.

Washington has exempted some Venezuelan oil trade from sanctions when transactions are in exchange for fuel and food or to repay debts rather than for cash. But that trade slowed as the US tightened restrictions and refiners, shippers and insurers have been steering clear of Venezuela to avoid any risk they may fall foul of sanctions.

Washington aims to deprive Venezuelan socialist President Nicolas Maduro of his main source of revenue with the sanctions, which have driven Venezuelan oil exports to their lowest level since the 1940s.

Reliance gave the US State Department and the Office of Foreign Assets Control (OFAC) notice of the diesel swap and received word back that the policies that allowed the transaction were still in place, the Reliance source told Reuters.

Reliance has previously said that its supplies of fuel to PDVSA in exchange for crude were permitted under sanctions.

An oil tanker named Commodore would load the cargo of crude in Venezuela and ship it to India, the tanker's manager NGM Energy said.

"All details of the transaction and transportation were shared with US authorities, who confirmed that the U.S. policy authorizing such transactions remained in place," NGM Energy said in a statement to Reuters.

"The shipment is made in connection with the humanitarian exchange of oil for diesel fuel."

The Commodore is loading a 1.9-million barrel cargo of crude for Reliance at Venezuela's main oil port of Jose, according to an internal PDVSA cargo schedule seen by Reuters.

The Liberian-flagged Commodore was at the Jose Terminal on Thursday, ship tracking data on Refinitiv Eikon showed.

The US State Department, Treasury's enforcement arm OFAC, and PDVSA did not immediately respond to a request for comment.

Reliance has a swap deal to provide diesel to Venezuela in exchange for fuel but has not received a cargo of crude since April. Sources at Indian refiners told Reuters earlier this year they planned to wind down their purchases of Venezuelan oil to avoid any problems with supply due to sanctions.

Other long-time customers of PDVSA, including Italy's Eni and Spain's Repsol, have continued taking cargoes of Venezuelan crude this year under permission granted by the US Treasury Department to exchange the oil for diesel supply as part of debt repayment deals, according to sources from the companies.

NGM Energy also manages the Voyager I tanker, which the United States removed from its list of sanctioned vessels last week after NGM and the ship's owner Sanibel Shiptrade said they would increase measures to ensure vessels complied with international sanctions.

"Last month, NGM Energy SA adopted a firm policy of not allowing vessels under its commercial management to trade to Venezuela, or to carry Venezuelan petroleum cargoes, absent US government authorization," NGM said.

"NGM continues to stand by that pledge."

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Agencies
April 23,2020

More and more Indians have become better prepared in the last one month, as far as stocking of their ration, medicine or money is concerned, according to the IANS-CVoter COVID-19 Tracker.

With the second leg of the lockdown half way through and Prime Minister Narendra Modi saying it's a long haul, 57.2% respondents said they have less than three weeks of stock while 43.3% said they have a stock that will last beyond that

However, if one breaks into weeks, most respondents said they are prepared for a week's time. 24.5% respondents said they have ration, medicine or money to last a week. This is closely followed by 21.9 % respondents saying they are ready for a month.

Meanwhile, 20.4 % said they are ready for a couple of weeks. There are 15.8 % who said they are ready for more than a month with food, ration and medicine. A tiny 5.6 % said they are ready with three weeks of stock.

However, there is 12.3% who still seem to live on the edge with less than a week's preparation.

But, the biggest takeaway from the IANS-CVoter COVID-19 Tracker is that in the last one month, a massive segment of society realised that the fight is long and the preparation should also be to last that long.

o put things into context, on March 16 when the tracker started, a whopping 77.1% said they have stock to last for less than a week. More than a month later on April 21, that number jumped to just 12.3%, which essentially means, people have become better prepared for a long-hauled lockdown period.

Similarly, on April 21, a sizable 21.9% respondents claimed they are ready with ration and medicine that will last them a month. On March 16, not even one respondent could claim they have a month's stock. In fact till March 22, just ahead of the announcement of the first lockdown, no respondent the IANS-CVoter tracker said that they have a month's preparation.

Similarly, when the tracker started, 9.9% said they simply ‘don't know'. As on April 21, that number is a big zero.

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