Don't tax gifts to wives, daughters-in-law: Maneka Gandhi
New Delhi, July 10 : Minister for Women and Child Development Maneka Gandhi has urged Finance Minister Piyush Goyal to make amendments to the Income Tax Act so that gifts to wives or daughters-in-law are not taxed.
"As a society, the onus of ensuring economic empowerment of our women lies on each of us. Following several requests from women, especially wives and daughters-in-law, I have urged the Finance Minister to examine and suitably amend Section 64 of the Income Tax Act," she tweeted.
The Section 64 deals with clubbing of incomes and provides that if a husband gifts an asset to his wife and the asset results in some income to the wife, the income will be added to the taxable income of the husband.
"The provision was originally formulated in 1960s under the assumption that wives and daughters-in-law would normally not have any independent taxable income," the Union Minister tweeted late on Monday.
However, Gandhi said the act was having an adverse effect as women at present were becoming financially more independent.
"Today with women leaving an indelible mark in every field, the Act seems to have an adverse effect.
"It has come to fore through several requests that husbands and fathers-in-law are apprehensive to transfer assets to women in their families because they fear that income accruing from the asset will ultimately become a burden on them," she added.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Voting begins for Assam's 126 assembly seats
_vb_85.jpeg)
Guwahati (PTI): Polling for all 126 Assam assembly constituencies began on Thursday to decide the electoral fate of 722 candidates, officials said.
In the high-stakes election, the ruling BJP is aiming for a third consecutive term in office, while the Congress seeks to wrest power after being ousted in 2016.
Polling, being held in a single phase, began at 7 am and will conclude at 5 pm. Long queues of voters were seen outside polling stations from early morning.
An electorate of 2.50 crore, including 1.25 crore women and 318 from the third gender, can exercise their franchise in 31,490 polling stations across the state.
Prominent candidates include Chief Minister Himanta Biswa Sarma, Congress state president Gaurav Gogoi, assembly Speaker Biswajit Daimary, Leader of the opposition Debabrata Saikia, AIUDF chief Badruddin Ajmal, Raijor Dal president Akhil Gogoi, and Assam Jatiya Parishad (AJP) chief Lurinjyoti Gogoi.
Several cabinet ministers, including the AGP’s Atul Bora and Keshav Mahanta, and the BPF’s Charan Boro are also in the fray.
The Congress has the highest of 99 contestants, followed by the BJP (90), AIUDF (30), NDA allies AGP (26) and BPF (11).
Opposition alliance’s Raijor Dal is contesting in 13, AJP in 10, CPI(M) in 3 and APHLC in 2. Outside the two coalitions, the AAP is contesting in 18 seats, UPPL in 18, TMC 22, JMM 16 and there are 258 independents.
The ruling NDA’s main constituents are the BJP, Asom Gana Parishad (AGP) and the Bodo Peoples’ Front (BPF) while the opposition alliance comprises the Congress, Raijor Dal, Assam Jatiya Parishad (AJP), CPI(M), All Party Hill Leaders Conference (APHLC) and CPI(ML).
The counting of votes is scheduled on May 4.
_vb_34.jpeg)
_vb_49.jpeg)
