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Logical comment of NITI Aayog member to tax agricultural income and abolish personal exemptions

Kashmir Times. Dated: 4/30/2017 11:45:08 PM

Dear Editor,
It refers to logical comments of NITI Aayog member Bibek Debroy to tax agricultural income, and to abolish Income Tax exemptions of personal nature. Bitter reality is that benefit of total exemption on agricultural income is not for ordinary farmers, most of which do not even have income above the basic exemption-limit. Total tax-exemption on agricultural income is being largely misused by ultra super-rich section of society who own big luxurious farm-houses or purchase agricultural land just to whiten their black money shown as now-exempted agricultural income.
Likewise present too many tax-exemptions should be reduced to bare minimum which can be retained for encouraging savings and insurance, providing better education, or investing for residential accommodations for those who do not have their own residences. Other exemptions like on charity and donation are grossly misused, and needs to be abolished. Likewise exemptions on contributions made to or received by political parties needs to be abolished considering richness-status of our political parties and also misuse through ever-increasing mushrooming non-serious political parties now swelling above 2000 just to avail tax-exemptions to whiten black money of those promoting such political parties. Otherwise also revenue so earned through abolition of such misused and undesired tax-exemptions will be available for public welfare and national development, which is not less than charity or donation.
—Subhash Agrawal,
1775 Kucha Lattushah
Dariba Delhi.