Get up to Rs 5 cr for information on tax evasion, benami transactions
New Delhi, June 1: The government on Friday launched three new reward schemes under which a person can get up to Rs 5 crore for information on tax evasion and 'benami' (proxy) transactions and properties.
While a person can get maximum Rs 5 crore for giving specific information about substantial tax evasion on income and assets outside India, the maximum reward for information on tax evasion in India is Rs 50 lakh, the Finance Ministry said.
However, for information on benami transactions and properties, one can get a reward of up to Rs one crore.
The government earlier introduced Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 in order to "investigate income and specific assets kept in foreign countries by people taxable in India, recover tax on it and take other actions like penalty and prosecution".
"With the objective of attracting and encouraging people to give information about such income and assets... reward up to Rs five crore has been introduced in the new reward scheme," an official statement said.
"The amount has been kept high to make it attractive to potential sources in foreign countries."
The Income Tax Department also revised the "Income Tax Informants Reward Scheme" superseding the earlier reward scheme issued in 2007.
Under the revised scheme, a person can get reward up to Rs 50 lakh for giving specific information about substantial tax evasion within India.
The "Benami Transactions Informants Reward Scheme", on the other hand, is aimed at encouraging people to give information about benami transactions and properties as well as income earned on such properties by hidden investors and beneficial owners, the Finance Ministry said.
"It was found in many cases that black money was invested in properties in the names of others, even though benefits were enjoyed by the investor concealing his beneficial ownership in his tax returns," it added.
Under this, a person can get a reward of up to Rs one crore for giving specific information to tax officials about benami transactions and properties.
The schemes will help the Income Tax Department in its efforts to unearth black money and reduce tax evasion, an official statement said.
"Foreigners will also be eligible for such reward. Identity of the persons giving information will not be disclosed and strict confidentiality shall be maintained," the Finance Ministry said.
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Sanjay Raut demands re-election, alleges irregularities in EVMs during Maharashtra polls
Mumbai, Nov 25: Shiv Sena (UBT) MP Sanjay Raut on Monday demanded a re-election in Maharashtra using ballot papers, claiming there were irregularities with the electronic voting machines (EVMs).
Talking to reporters, Raut alleged several complaints about EVMs malfunctioning and questioned the integrity of the recently held elections.
The BJP-led Mahayuti won 230 out of 288 seats in the assembly elections, while the opposition Maha Vikas Aghadi managed 46 seats, with Shiv Sena (UBT) winning just 20 out of 95 seats it contested.
"We have received nearly 450 complaints regarding EVMs. Despite raising objections repeatedly, no action has been taken on these issues. How can we say these elections were conducted fairly? Hence, I demand that the results be set aside and elections be held again using ballot papers," Raut said.
Citing some instances, he said a candidate in Nashik reportedly received only four votes despite having 65 votes from his family, while in Dombivli, discrepancies were found in EVM tallies, and election officials refused to acknowledge the objections.
The Sena (UBT) leader also questioned the credibility of the landslide victories of some candidates, saying, "What revolutionary work have they done to receive more than 1.5 lakh votes? Even leaders who recently switched parties have become MLAs. This raises suspicions. For the first time, a senior leader like Sharad Pawar has expressed doubts about EVMs, which cannot be ignored."
Asked about the MVA's poor performance in the elections, Raut rejected the idea of blaming a single individual.
"We fought as a united MVA. Even a leader like Sharad Pawar, who commands immense respect in Maharashtra, faced defeat. This shows that we need to analyse the reasons behind the failure. One of the reasons is EVM irregularities and the misuse of the system, unconstitutional practices, and even judicial decisions left unresolved by Justice Chandrachud," he said.
Raut stressed that though internal differences might have existed within the MVA, the failure was collective.
He also accused the Mahayuti of conducting the elections in an unfair manner.
"I cannot call the elections fair given the numerous reports of discrepancies in EVMs, mismatched numbers, and vote irregularities across the state," Raut said.
