Income Tax department
National Congress Political Party Flag
| April 1, 2024, 11:41 a.m.
Income Tax Department Relents, Suspends Coercive Action Against Congress Amidst Tax Demands
In a significant development, the Income Tax department has announced its decision to refrain from taking coercive measures against the Indian National Congress amidst tax demands amounting to approximately ₹3500 crore. This decision, made during a Supreme Court hearing, follows fresh notices from the Income Tax department raising substantial tax demands against the Congress. The department's concession aims to avoid disruptions during the ongoing General Elections. The Congress has challenged the tax demands, asserting that political parties should not be taxed based on gross receipts.
Read More.| March 31, 2024, 9:18 a.m.
Congress Faces Fresh Income Tax Notices, Total Demand Soars to ₹3,567 Crore
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.
Read More.Stories
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