NITI Aayog tells Centre to review tax exemption on farm income

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.

Read More

  • Share
logoSubscribe now