TODAY -
'Tax waiver for STs subject to specific conditions'
Nagaland Post | Agencies | Guwahati, Feb 23 2012
With anomalies regarding income-tax exemption claims increasingly emerging in the Northeast region, I-T department Thursday made it clear that the benefits for Scheduled Tribes are subject to specific conditions and area-specific.
Commissioner of income tax for northeast, R K Gupta, told a press conference here on Wednesday that a significant percentage of individuals in the region has availed exemptions under 10(26) of the Income Tax Act even though many of them did not reside in the region and several crores deposited in banks.
Gupta pointed out that the chief commissioner office income tax (NE) received several reports on income tax scams of salaried employees, mostly those claims under Income Tax Act’s Section 80 GGA (donation for scientific research and rural development) and 80G (donation to charitable institutions) which are false and not allowable. He added that most reports have come from Manipur.
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* This Post is uploaded on February 24, 2012
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