NITI Aayog asks Centre to re-examine tax exemption on farm income

The National Institution for Transforming India (NITI) Aayog has suggested a re-examination of the tax exemption on agriculture income.
The National Institution for Transforming India (NITI) Aayog has suggested a re-examination of the tax exemption on agriculture income.

As reported by a leading business daily, the NITI Aayog’s 3-year agenda was circulated among Chief Ministers on Sunday, in which it blamed non-agricultural entities stating the blanket relief was misused by them to generate black money.

It also said that the aim behind tax exemption was to safeguard the farmers, which eventually did not work as the non-farmer entity were declaring agriculture as their source of income to avoid taxes.

NITI Aayog tabled a slew of suggestions in front of the Government of India to fill the gaps in the agricultural sector of the country, said the news report.

By : India Infoline News Service | April 25, 2017

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