Income tax authorities have seized assets worth Tk 1.5 billion in the current financial year. Finance Minister in the Rajya Sabha Nirmala Sitharaman Dr.
Responding to a question in the Rajya Sabha, he said that the tax authorities had raided the property in eight places. He added that 20 fiscal-1. The total number of tests conducted in the financial year was 983.
He said the tax authorities were campaigning on tax evasion and such investigations would continue, all of which were routine.
He said taxpayers will conduct similar inspections of the property after receiving tax evasion information. He said the process of property verification and confiscation was routine.
He said all the examinations of the Income Tax Department were conducted in accordance with the law. The nature, circumstances and circumstances of each case Tax evasion He says that shapes are based on these.
When the tax authorities inspect and seize assets, evaluate them and collect appropriate taxes. Tax evasion If this is done, measures will be taken including fine collection. He said the case has been documented to facilitate legal action if necessary.
Legislators will also be provided with legal means to appeal the activities of the tax authorities to those involved. Administratively, you can apply to the Income Tax Commissioner (Lokpal). Or he can appeal to the Income Tax Department or the Supreme Court or the Supreme Court.
He noted, however, that litigation is prohibited under section 5 of the Income Tax Act, 1961.
Introduction to the agency bill
The bill to repeal the Companies Act 2013 was filed in the Lok Sabha. But members of the main opposition Congress and the grassroots party protested. The bill was presented by Union Finance and Corporate Affairs Minister Anurag Thakur.
However, in the wake of Yezwani’s growing issue, many members suggested the bill be in favor of the corporation and passed it to the Parliamentary Standing Committee on Finance.
Biju Janata Party member Bardurahi Mahtab alleges that allegations have been made against the bill for eliminating criminal activity in companies and imposing just fine. He questioned whether the bill was needed at a time when large private bankruptcy cases were created.
Trinamool Congress member Chaughata Roy alleged that the government had adopted amendments in favor of corporations that only accepted trade union demands. He said the amendment is to create a favorable environment for the protection of corporate criminals.
Congress party member Adir Ranjan Chowdhury has accused the bill of proving the bill to the owners of state institutions and corporations. He noted that CSR was being depleted.
Anurag Tagore explained to the members that there is no bill to prevent the culprit. He also added that CSR restrictions were not relaxed and administrative guidance was amended to treat it. The Minister explained that the amendments to the bill greatly reduced the functions of the National Health Tribunal (NCLT).