Nothing in document about taxing agricultural income: Panagariya
(1 year ago)
New Delhi , Apr 28 : NITI Aayog Vice-Chairman Arvind Panagariya on Friday categorically stated that there is no question of taxing agriculture income at a time when the government is keen on doubling the income of farmers.
"What was circulated to governing council is exactly what we have posted. There is nothing in document about taxing agricultural income," Panagariya said.
Panagariya said that the nearest thing that was mentioned in the three-year action agenda was loopholes should be plugged to prevent non-agriculturists from converting their black money into white by showing it as agriculture income.
A controversy had erupted after NITI Aayog member Bibek Debroy at a press conference said the agricultural income should be taxed.
However, Finance Minister Arun Jaitley later clarified that there was no such proposal and the Centre has no power to impose tax on agricultural income.