• search
For Mumbai Updates
Allow Notification  

Max 'crorepati' agriculturists in Bengaluru, Delhi and Mumbai

By PTI
|

New Delhi, Mar 15: Metro cities like Delhi, Mumbai, Kolkata and Bengaluru have the maximum 'crorepati' entities who have declared agricultural income of over Rs 1 crore in the last nine assessment years with the Income Tax department.

The department is conducting a tax evasion probe in a select number of such cases after the taxman was directed in this regard recently.

Max 'crorepati' agriculturists in cities

As per official data in this regard, accessed by PTI, between Assessment Years (AYs) 2008-09 to 2015-16, a total of 321 assesses declared agricultural wealth over Rs one crore in Bengaluru region followed by Delhi (275), Kolkata (239), Mumbai (212), Pune (192), Chennai (181), Hyderabad (162), Thiruvananthapuram (157)and Kochi (109).

Finance Minister Arun Jaitley today said in Parliament that many prominent people are being probed for allegedly concealing taxable income as agricultural earnings as he told the Opposition not to term it as political victimisation if their names come out. "Many prominent people" are said to be involved and are being probed, he said.

"Please don't say it is political victimisation if names come out after that (probe)." IT department Assessing Officers across the country, as part of a recent directive, have been asked to "verify" a select number of cases in this category under assessment years 2011-12 to 2013-14.

The move came in view of a PIL filed in the Patna High Court where concerns have been raised that some of these declarants could be engaged in routing their un-accounted or illegal funds in the "garb" of farm income thereby leading to instances of money laundering. Agricultural income is exempt from Income Tax in the country.

The official data in this regard said a total of 2,746 entities have declared agricultural income of above Rs 1 crore in the last nine AYs, between 2007-08 to 2015-16 and a probe has to be conducted for a block period of three AYs (2011-12 to 2013-14).

PTI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more
X