Rs 2,490 crore of tax exemption to political parties in 5 years

December 3, 2012

Tax_Money

New Delhi, December 3: Ten main political parties of the country had a whopping Rs 2,490 crore of tax-exempted income in the last five years, according to information from the Income Tax department through an RTI plea.

Of this the ruling Congress and the main Opposition party BJP have cornered more than 80 per cent.

The figures of political parties' income in this period received under the RTI does not include the donations or income below Rs 20,000 and hence a large number of small individual donations are not incorporated into it.

The Congress had a tax-exempted income to the tune of Rs 1385.36 crore, more than double of the BJP, which recorded a tax-exempted income of Rs 682 crore in the period between 2007-08 to 2011-12.

BJP ally JDU's tax free income in this period except the year 2008-09 has been Rs 15.51 crore.

BSP recorded an income of Rs 147.18 crore in three financial years 2007-08, 08-09 and 11-12. The party filed incomplete return in 2009-10 and had no tax-exempted income in 2010-11.

Sharad Pawar's NCP had a tax-exempted income of Rs 141.34 crore in the five years from 2007 to 2012.

According to the information from the IT department, CPI-M recorded an income of Rs 85.61 crore in four years in this period while it had nill income in 2008-09.

CPI's income in two financial years 2008-09 and 2009-10 is pegged at Rs 28.47 crore.

JD(S) had an earning of Rs 7.16 crore in two financial years of 2009-10 while Ram Vilas Paswan's LJP had a tax-exempted earning of Rs 2.55 crore in four years from 2007 to 2011.

Lalu Prasad's RJD earned Rs 2.85 crore in three years from 2008 to 2011.

The information came through a petition filed by Hisar based RTI activist Ramesh Verma before the Income Tax department.

Political parties are exempted from tax on their income through section 13 A of IT Act 1961. They have to, however, maintain a book of account for donations or income above Rs 20,000.


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News Network
June 27,2020

Hyderabad, Jun 27: Ahead nurse working with a state-run hospital here died on Friday while undergoing treatment for COVID-19, a hospital official said.

The nurse, who was due to retire this month-end, tested positive about 10 days ago, he said.

The woman, who had been on medical leave for about 20 days, is suspected to have contracted the virus when she attended a private function in a neighbouring district, he said.

She was treated at the hospital for two days after she was found positive for COVID-19.

However, she was shifted to another government hospital as the symptoms continued unabated and sugar levels were high, he said.

The woman, who had comorbidities like diabetes and hypertension, died today.

Meanwhile, about 20 healthcare personnel, including doctors and paramedical staff, have so far tested positive for COVID-19 at the state-run Gandhi hospital, according to a hospital official.

He also said that there are around 50 patients whose family members have not come forward to take them home though the patients can be in home quarantine.

Family members have cited reasons such as residents not allowing a positive patient to return to the villages and presence of children at residences, for not taking them home, he added.

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Agencies
May 26,2020

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

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Agencies
January 11,2020

New Delhi, Jan 11: The Supreme Court is scheduled to hear the curative petition of two death row convicts in 2012 Nirbhaya gang-rape case on January 14.

A five-judge Bench of Justices N V Ramana, Arun Mishra, R F Nariman, R Banumathi and Ashok Bhushan will hear the petition filed by Vinay Sharma and Mukesh.

The duo had moved a curative petition in the top court after a Delhi court issued a death warrant in their name and announced January 22 as the date of their execution.

Besides them, two other convicts named Pawan and Akshay are also slated to be executed on the same day at 7 am in Delhi's Tihar Jail premises.

They were convicted and sentenced to death for raping a 23-year-old woman on a moving bus in the national capital on the night of December 16, 2012.

The victim, who was later given the name Nirbhaya, died at a hospital in Singapore where she had been airlifted for medical treatment.

A curative petition is the last judicial resort available for redressal of grievances. It is decided by the judges in-chamber.

If it is rejected, they are legally bound to move a mercy petition. It is filed before the President who has the power to commute it to life imprisonment.

The court after issuing a black warrant in their name gave them two weeks' time to file both the curative and mercy petition.

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