There is a big scam going on. The# income tax department
knows the fraud is going on .Instead of widening the tax net , the government
is imposing more and more taxes on the 5.5% ,39 million earning individuals who
pay taxes. This is a kind of tax terrorism. Honest tax payers suffer where as
dishonest invent ways to deceive the state. There are approximately eight lakh so
called farmers who declared their income in millions. The fact is that in the
name of agricultural income which is tax
free ,black money is laundered and taxes
are being evaded.
The income from agriculture in 2011-12 was Rs,2000 lakh
crore, twenty times the Gross Domestic Product of India.2012-13,it was six times
the GDP. More than four lakhs tax payers claimed exemption in 2014-15.The
biggest beneficiaries were Kaveri seeds, which claimed Rs.1865.63 croreas exemption
and international Monasanto India .claimed Rs.94.40 exemption. Both earned Rs.215.36
crore and Rs.138.74 crore profit before
tax.
.The #Central Board of Direct taxes on a white paper on
black money released in may 2012
categorically pointed out. “Giving credit to agricultural income for income tax
purposes without verification or claim allows an avenue for bringing black
money in to the financial system.”What did the department do to unearth black
money? An article by Sudhanshu Ranjan ,a senior TV Journalist &author has given more details.
An honest probe is a must to debunk the self styled
industrialists, political leaders and bureaucrats farmers .:
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