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What is Taxing Wealthy Farmers: Assocham about?

The industry body Assocham has urged the Indian government to bring wealthy farmers under the income tax system to increase tax revenue. It proposed taxing farmers based on the amount of land owned - 5% tax on those with up to 20 hectares, 10% tax on those with 20-50 hectares, and 20% tax on those with over 50 hectares. Currently, agricultural income is not taxed in India. Assocham estimates this could generate an additional Rs. 20,000 crore in tax revenue annually. However, implementing this may face polit

Author

faisalneyazi

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EN