NITI Aayog tells Centre to review tax exemption on farm income
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 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...."
Really commendable initiative from NITI Aayog
M G Warrier