Fifty per cent of the smaller firms are not paying taxes and the government is keeping atab on such entities to ensure there is no tax evasion, the Lok Sabha was told on Friday.
Minister of State for Finance Jayant Sinha said the government has taken "revolutionary steps" to ensure there is no tax evasion and steps have been taken to increase tax collection.
Things have improved as far as prevention of tax evasion is concerned, he said while replying to questions. Referring to smaller firms, Sinha said 50 per cent of these do not pay taxes and the government is keeping a watch to ensure there is no evasion. To ensure compliance, stringent action is being taken, he said.
The minister said there are 250 million households in the country, out of which 180 million are in the rural areas.
Business Standard, New Delhi, 30 April 2016
Minister of State for Finance Jayant Sinha said the government has taken "revolutionary steps" to ensure there is no tax evasion and steps have been taken to increase tax collection.
Things have improved as far as prevention of tax evasion is concerned, he said while replying to questions. Referring to smaller firms, Sinha said 50 per cent of these do not pay taxes and the government is keeping a watch to ensure there is no evasion. To ensure compliance, stringent action is being taken, he said.
The minister said there are 250 million households in the country, out of which 180 million are in the rural areas.
Business Standard, New Delhi, 30 April 2016
Comments
Post a Comment