Amend Finance Bill 2013, Jayalalithaa asks PM
Chennai: Tamil Nadu Chief Minister J Jayalalithaa on Tuesday urged Prime Minister Manmohan Singh to amend the Finance Bill 2013.
In a letter to the prime minister, Jayalalithaa asked him to remove "extremely retrograde, anti-federal provision in Clause 7 of the Bill" that seeks to make levies paid by state government undertakings to the state as non-deductible while computing income tax.
She wrote: "This clause seeks to amend Section 40 of the Income Tax Act and make any levy by a state government by way of privilege fee, license fee, royalty etc., on state public sector undertakings not deductible for the purpose of computation of income."
According to her, the finance bill seeks to boost the central government`s income at the cost of legitimate tax and non-tax revenue of the state government amounting to indirect tax on state governments.
She also said the provision was discriminatory as it is applicable only to state-owned units and not central government-owned units.
"The clause gives a very wide discretion to income tax authorities to determine which levies will not be permitted for deduction and these powers can be exercised in an arbitrary manner which will lead to needless litigation," Jayalalithaa said.
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- DNA: Heart-wrenching reality of Kashmiri pandits
- DNA: Bengaluru's Mount Carmel college students show country's ideology to Rahul Gandhi
- Proud to be an Indian, no plans to leave the country, says Aamir Khan
- Rahul Gandhi's embarrassment in front of Bengaluru college students
- DNA: Aamir Khan clarifies his love towards nation but sticks to previous statement
- Intolerance issue: Proud to be Indian, won't leave country, says Aamir Khan
- Yuvraj Singh completes 8000 runs in first class cricket
- Eat smart to slow down ageing and increase longevity!
- Intolerance issue: Those attacking me are only proving my point, says Aamir Khan – Read full statement
- Woman commits suicide after heated discussion with husband over Aamir Khan's intolerance remark