Friday, November 06, 2009
KNOCKOUT PUNCH TO THE “LEFT OUTS”
GANGTOK, November 6: The Income Tax Office of Sikkim has started issued notices with much fuss to those individuals coming under the purview of the Income Tax Act 1961 to file their return of their incomes in connection with the assessment for the assessment year 2008-09 even as the triad of the ‘left outs’, State Government and Centre play a game of musical chair over the non exemption provided to the non Sikkim Subject holders.
The notice issued by Income Tax Officer LD Lepcha asks the concerned individuals to prepare a true and cored return of their income in respect of which they are assessable under the Income Tax Act during the previous year relevant to the assessment year 2008-09.
“The return should be in the appropriate form as prescribed in Rule 12 of the Income Tax Act Rule 1962”, states the notice issued under section 142 of the Income Tax Act, 1961. The return should be duly verified and signed in accordance with the provisions of the Act as delivered to the Income Tax Office before December 1, 2009.
The latest development apparently deals a fatal blow to the aspirations and movement of those not exempted from paying income tax, particularly the old settlers who do not have the Sikkim Subject certificates, the only ground in the arrangement between the State government and Finance Ministry for becoming eligible for income tax relief.
The Union Finance Minister Pranab Mukherjee had recently stated that only Sikkim Subject certificate holders are exempted from paying income taxes. Rest has to pay. Period.
Mukherjee had stated that the Union government has targeted to collect Rs. 4 lakh crores as revenue from taxes and there will be no compromise on this target.
The mood of the Centre is reflected in the issuing of notices to the ‘non-exempted’ people here to submit their returns delivering probably final blow to around 9,000 old settlers of Sikkim who have been clamouring for exemption at par with Sikkim Subject holders.
Sikkim News,News on Sikkim,News of Sikkim, income-tax