Adversitement
Congress Faces Fresh Income Tax Notices, Total Demand Soars to ₹3,567 Crore
Published On : 2024-03-31T14:48:15+0530 [ IST ] |
Author : Mayur_Tembhare
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India :
The Congress party is facing significant challenges as it grapples with fresh notices from the Income Tax department, exacerbating its financial woes. Here are the key developments:
- Fresh Tax Notices: The Income Tax department has issued fresh notices to the Congress, demanding ₹1,745 crore for the assessment years 2014-15 to 2016-17. This adds to the previous tax demand, bringing the total to ₹3,567 crore.
- Taxation on Entire Collections: The fresh notices include taxes on the party's entire collections, as authorities have withdrawn tax exemption available to political parties.
- Taxation on Third-Party Entries: The Congress has been taxed for "third-party entries" found in diaries seized from its leaders during probe agency raids. This aspect of taxation has further escalated the party's financial liabilities.
- Legal Challenge: The Congress has taken the matter to court, challenging the ₹135-crore tax demand. The case is scheduled to be heard by the Supreme Court on Monday. Despite efforts, the party has not obtained relief from higher judicial authorities.
- Allegations of Bias: Congress leaders have alleged bias, noting that similar third-party entries naming BJP leaders in other diaries have not faced taxation. They accuse the BJP of engaging in "tax terrorism" and attempting to financially cripple the principal opposition party, particularly during the crucial 2024 Lok Sabha elections.
- Appeal to Election Commission: Expressing concerns over a distorted electoral playing field, the Congress has approached the Election Commission, urging it to ensure fairness and equity in the electoral process.
The escalating tax dispute adds to the political and financial challenges faced by the Congress party, underscoring the contentious nature of Indian politics and the ongoing battle for power and influence.
Source : Business Line
Tags : tax notices , BJP , Congress , Lok Sabha elections , tax demand , Income Tax department , level playing field ,
Summary : The Congress party is facing mounting trouble as it receives fresh notices from the Income Tax department, demanding ₹1,745 crore for assessment years 2014-15 to 2016-17. This adds to the previous demand, bringing the total to ₹3,567 crore. The notices include taxes on the party's entire collections, withdrawal of tax exemption for political parties, and taxation on "third-party entries" found in seized diaries. Congress has challenged the tax demand in court, alleging "tax terrorism" by the ruling BJP and calling for a level playing field during the 2024 Lok Sabha elections.
Adversitement