Taxable income concealed as agricultural earning
A week ago, the Finance Minister informed the august house that many prominent people are being probed for allegedly concealing taxable income as agricultural earnings.
It seems that the Patna High Court is seized of the matter in a PIL filed. Inasmuch as the Directorate of Income Tax (Systems) has asked the Principal Chief Commissioners and Chief Commissioners to send a feedback report in the matter of ‘ Verification of Genuineness of Agricultural Income shown in the Income Tax Return filed by the assesses for AY 2007-08 to AY 2015-16'. This report is to be sent by today.
F.No.DGIT(S)/DIT(S)-3/AST/PIL Matter/Agriculture Income /97/2015-16