Notable people hiding taxable income, says Arun Jaitley

New Delhi: Union finance minister Arun Jaitley on Tuesday informed Parliament that many prominent people are being probed for allegedly concealing taxable income as agricultural earnings, after Opposition raised concern over black money being masqueraded as agriculture earnings, which is non-taxable.

Raising the issue in Rajya Sabha, JD(U) Sharad Yadav sought an explanation from the government on the issue to which Mr Jaitley said many prominent people are being probed and told the Opposition not to term it as “political victimisation” if their names come out.

To this, Congress’  Digvijay Singh charged Mr Jaitley with misleading the House and dared him to reveal the names and “not threaten us.”

Other members including from Left parties also asked names to be revealed. Mr Jaitley clarified that there are no plan to tax agriculture earnings.  

Earlier, Mr Yadav said reports suggested that Rs 2,000 lakh crore of income has been concealed as agriculture earnings and sought an explanation from the government on the issue.

BSP’s Mayawati demanded a high-level probe into generation of blackmoney in the name of agriculture and strict action be taken against guilty. She also used the occasion to demand Bharat Ratna for BSP founder Kanshi Ram.

SP’s Ram Gopal Yadav said there seems to be conspiracy of taxing farm income in reports that huge blackmoney was being hidden as agricultural income. He warned the government against taxing farm income.

Unsatisfied by Mr Jaitley’s reply, MPs were up on their feet continuing to raise the matter. Deputy chairman P.J. Kurien said Mr Yadav’s notice under rule 267 seeking suspension of business to take up the issue, has not been accepted.