Tax Administration Reforms Commission pitches in for taxing large farmers

The Tax Administration Reforms Commission (TARC) has analysed all aspects of tax administration reform in their four reports. The objective is to get all stakeholders-both tax payers and tax officers to operate in ways that promote overall goals of efficiency and equity in tax-collection by facilitating taxpayers with a customer focus, while at the same time, segmenting taxpayers to reduce tax evasion. TARC recommendations comprise many immediate needed reform measures as well as long term structural reforms.

The Shome Committee/TARC has pitched for taxing large farmers with incomes above Rs. 50 lakh a year.

The reason for this recommendation as given by TARC is that this will broaden the tax payer base and help mobilize additional revenue without affecting any but a miniscule proportion of the very large farmers whose annual income exceeds the threshold limit of Rs. 50 lakhs. Currently, the recommendations of the TARC are under examination of the Government.

This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha.

Source : Equity Bulls

Keywords