Election Commissioner Ashok Lavasa's wife under I-T dept scanner
His contrast with Chief Election Commissioners on implementation of MCC was evident during LS Polls
New Delhi, Sep 23: Election Commissioner Ashok Lavasa's wife Novel Singhal Lavasa has come under the scanner of the Income Tax Department on charges of alleged tax evasion, official sources said on Monday.
Lavasa's wife has been issued a notice by the department to explain certain details in her I-T Returns (ITR) with regard to holding directorship in about 10 companies, they said.
The officials said after preliminary investigation, the tax department has asked her to provide more documents related to her personal finances.
Novel Lavasa issued a statement late night stating she has paid all due taxes on her income.
"There have been reports in certain sections of the media about income tax notices (issued to me) regarding discrepancies in tax returns filed by me.”
"It is stated that I have paid all taxes due towards me and disclosed all income earned by me from pension, and all other sources as per Income Tax law," she said.
It is clarified, she added, that having served as a class I officer with State Bank of India for 28 years and having acquired vast experience in banking and development, "I continue to be engaged in various professional activities, including as independent director in a few companies".
"I have replied to all I-T notices received since August 5, 2019 and have been cooperating with the ongoing process of the department," she said.
The department is looking at the ITRs of Novel Singhal Lavasa to ascertain if her income has escaped assessment in the past or something has been concealed from tax authorities, the official sources said.
The probe into alleged tax evasion and holding of directorship in multiple firms against the former banker pertains to a time period between 2015 and 2017, they said.
Ashok Lavasa was appointed election commissioner on January 23, 2018, after he retired as the Union Finance Secretary the previous year.
His difference of opinion, with regard to the implementation of the model code of conduct (MCC), with Chief Election Commissioner Sunil Arora and Election Commissioner Sushil Chandra was reported during the recently-concluded parliamentary election.
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Centre further tightens wheat stock limit for wholesalers, retailers & processors
New Delhi: The government on Wednesday further tightened wheat stock holding norms for wholesalers, small and big chain retailers, and processors to curb hoarding and check price rise.
"As part of continuous efforts to moderate prices of wheat, the central government has decided to revise the wheat stock limit applicable until 31st March 2025," the food ministry said in a statement.
According to the revised norms, wholesalers are now allowed to maintain wheat stock up to 1,000 tonne instead of 2,000 tonne, retailer can hold 5 tonne for each outlet instead of 10 tonne, while big chain retailer can hold 5 tonne for each outlet instead of 10 tonne earlier.
Processors will be allowed to maintain 50 per cent instead of 60 per cent of their monthly installed capacity multiplied by the remaining months till April 2025.
The stock limits on wheat were first imposed on June 24 and later revised to tighten the norms on September 9 in order to manage the overall food security and to prevent hoarding and unscrupulous speculation.
The ministry said all wheat stocking entities are required to register on the wheat stock limit portal (https://evegoils.Nic.In/wsp/login) and update the stock position every Friday.
If the stocks held by entities are higher than the prescribed limit, they should bring the quantity to the prescribed stock limits within 15 days of the issue of the notification.
Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under the Essential Commodities Act,1955.
The food ministry is maintaining close watch over the stock position of wheat to control prices and ensure easy availability in the country.
