FM Arun Jaitley rules out any plan to impose tax on agriculture
New Delhi : In a huge relief to the farmers across the nation, Finance Minister Arun Jaitley rules out any plan to impose any tax on agricultural income.
The statement came a day after Aayog member Bibek Debroy said the govt must impose tax on agriculture.
Taking social media, Jaitley said, "I categorically state that the Central government has no plan to impose any tax on agriculture income.
The tweet further said, as per the constitutional allocation of powers, the central government has no jurisdiction to impose tax on agricultural income.
However, Debroy had earlier said on that taxes should be imposed on agricultural income above a certain threshold in order to expand the tax base.
In May 2016, the PMO had advised the NITI Aayog to prepare documents on 15-Year Vision, Seven-Year Strategy and Three-Year Action Agenda.