Bill to exempt agri income tax for 2 more yrs passed

MP | 6 Mar 2023 | KOLKATA: The West Bengal Finance Bill, 2023 was passed in the state Assembly on Monday for exempting agricultural income tax for two more financial years ending on March 31, 2025. 

The move is aimed at providing relief to the farmers in the state who already derive benefits from several schemes of the state government. “It will also provide relief to the taxpayers for settlement of disputes involving all types of arrear tax, interest, penalty or late fee under relevant Acts pending before any authority till February 10, 2023, if the application is made before May 31, 2023,” state Finance minister Chandrima Bhattacharjee said while tabling the Bill. 

Last year, Bengal settled 28,697 disputes through such an amnesty scheme and collected Rs 594 crore. Around 20,000 more such cases are pending and the state expects disposal of such cases by encouraging people to pay their pending tax by waiving penalty, interest etc. 

The farmers in the state do not need to cough up Agriculture Income Tax as per Bengal Agricultural Income Tax Act 1944 and West Bengal Sales Tax (Settlement of Dispute) Act 1999. 

The scope of these Acts was ending on March 31, 2023. So the amendment was necessitated. 

“Chief Minister Mamata Banerjee has always stood by the farmers and has introduced a slew of schemes for their benefit. This is another major step which will be a big relief for the famers,” Bhattacharjee said. 

https://www.millenniumpost.in/bengal/bill-to-exempt-agri-income-tax-for-2-more-yrs-passed-510866