Business Economy 26 Apr 2017 No plans to impose t ...

No plans to impose tax on agriculture income, assures Arun Jaitley

DECCAN CHRONICLE
Published Apr 26, 2017, 12:34 pm IST
Updated Apr 26, 2017, 5:03 pm IST
Finance Minister clarifies central govt has no jurisdiction to impose tax on agriculture income.
 Finance Minister Arun Jaitley.
  Finance Minister Arun Jaitley.

Mumbai: Finance Minister Arun Jaitley has clarified that the central government has no authority to impose tax on agriculture income. The statement comes amid rising chorus for a loan waiver to farmers.

"As per the Constitutional allocation of powers, the central govt has no jurisdiction to impose tax on agricultural income," Jaitley said.

 

Jaitley added that as of now Narendra Modi government has no plans to impose any tax on agriculture income. Jaitley said that Constitution does not alloacte powers the central government in the regard.

There were reports in some section of media that Narendra Modi government was planning to bring agricultural income under tax bracket, for the first time in India's independent history.

Government's own think-tank NITI Aayog had also propagated the idea of tax for farm income which according to some analysts would not be a good idea. Aayog member Bibek Debroy has made a strong case for agri-tax in press conference on Tuesday to widen country's tax base.

 

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