Govt of India has no plan to impose tax on agriculture income

CA Satbir Singh — Wed, 26 Apr 2017 10:23:45 +0000

FM : The Central Government has no plan to impose any tax on agriculture income

Following is the text of the Union Finance Minister Shri Arun Jaitley’s Statement on the subject to impose tax on agriculture income:

“I have read the paragraph in Niti Ayog Report entitled ‘Income tax on agriculture income’. To obviate any confusion on the subject, I categorically state that the Central Government has no plan to impose any tax on agriculture income. As per the Constitutional Allocation of Powers, the Central Government has no jurisdiction to impose tax on agricultural income.”

Source Ministry of Finance- 26-April, 2017

Clarification on news reports regarding NITI Aayog’s Draft Three Year Action Agenda, published on 26thApril, 2017

Several newspaper reports published on April 26th, 2017, state that NITI Aayog or its Draft Three year Action Agenda has recommended that Farm Income in India be taxed to expand the existing Income Tax base. The NITI Aayog categorically states that this is neither the view of the Aayog nor is such a recommendation made anywhere in the Draft Action Agenda document as circulated to the Governing Council at the meeting on 23rd April 2017.

NITI Aayog notes that the views on Taxing Farm Income expressed by Member Shri BibekDebroy were personal and not those of the Aayog.

Source NITI Aayog 26-April, 2017

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Govt of India has no plan to impose tax on agriculture income

FM : The Central Government has no plan to impose any tax on agriculture income