Under 3 Per Cent of Indians Pay Income Tax

Under 3 Per Cent of Indians Pay Income Tax

In a written reply to Lok Sabha Finance Minister for state Nirmala Sitharam said while there were 3,46,04,064 individual assessees, the figure under the companies category stood at 5,90,288 in the latest data compiled for 2012-13. The data for 2013-14 fiscal is yet to be compiled, she added.
There was a total total outstanding of 3,28,519 crore under the Income Tax category and of 3,21,055 crore under the corporate tax category till June 2014. The Minister said while replying to a separate question, a case of unauthorised issue of refunds of Income Trax using login ID and password of a retired officer was detected in 2012 which has since been reffered to CBI for investigation.

He also said that a new password management policy has been implemented wherein changing/resetting of password is mandatory after an interval of 30 days,the user ID of an employee will be automatically disabled on his date of superannuation and immediate investigation and stern action against officers found to be guilty among others are some of the measures implemented to counter the problem.

Sick PSUs revival
Three sick PSUs has been identified by government to be merged with better performing state-run industries, the Houses was informed.
Sitaram said that Praga tools Ltd, Bharat Heavy Plates Vessels Ltd and Bharat Refactories Ltd will be either merged or taken over by Steel authority of India Limited (SAIL), Bharat Heavy Electricals Limited (BHEL) and Hindustan Machine (HMT).

Steps to tame prices
Sitharam said for another question on steps to contain foos inflation, that the government is committed to ensuring price stability and is closely monitoring the situation and taking measures on an ongoing basis to bring down inflation. He also said that the government recently recommende delisting of fruits and vegetables from the purview of Agricultural Produce Marketing Committee Acts of the states and fixing a minimum export price on onion and potato to ensure domestic supplies, adding the government has also suspended futures trading of  rice, ,urad and tur.

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