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Breaking NewsCongress faces ₹210 Cr Income Tax Notice, ₹ 65 Cr recovered, Cong...

Congress faces ₹210 Cr Income Tax Notice, ₹ 65 Cr recovered, Cong leader flays

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The Congress party has been asked to pay an extraordinary amount of Rs 210 crore of Income Tax against which the IT authorities has withdrew Rs. 65 Crores from the Congress Party's bank accounts by marking lien.

Senior Congress Ajay Maken has questioned the BJP's income tax policies in the wake of the Congress party's extraordinary ₹210 crore demand.

Following the income tax department's removal of Rs 65 crore from Congress's accounts, Maken questioned the BJP's income tax payments. Maken voiced his worries about the “undemocratic” act even though the case was still pending.

According to him, since Political Parties are not typically required to pay income tax. Maken expressed his worries on X (previously Twitter), calling the BJP Government's action worrisome.

Maken stated in a post on X that “the judiciary now holds the key to their hopes.” In a significant move by the government, the Income Tax Department ordered banks to transfer more than Rs 65 crores from INC , Indian Youth Congress, and NSUI accounts to the government yesterday. The amounts include Rs 5 crores from IYC and NSUI and Rs 60.25 crores from Indian National Congress.”

Do National Political Parties Generally Pay Income Tax? No. Is income tax paid by the BJP? No. He questioned, “Then why is the Congress Party has to deal with an extraordinary demand of Rs 210 crores?

He raised concerns about the condition of democracy and the danger this act represents to the system of multiple parties. “This circumstance calls into question the of democracy. Is it in danger? We made our argument throughout today's ITAT proceedings. Tomorrow is scheduled for the hearing to resume,” he said.

“The money in question was raised through community-based initiatives, such as IYC and NSUI membership drives and crowdfunding. This brings up an important query regarding the condition of democracy. Is it in danger? The judiciary currently holds our hope,” stated the top Congressman.

According to reports, on February 20, the I-T department was able to get Rs 65 crore from the Congress's account, out of the Rs 115 crore in outstanding tax dues.

The Congress has requested a pause till the stay application is resolved in an appeal and complaint against the I-T department's implementation of its lein.

The Congress allegedly only paid Rs. 78 lakh instead of the required Rs. 21 crore, in violation of the provision requiring an assessee to pay 20% of the outstanding sum before the appeal is considered.

The demand was raised to Rs 104 crore after the party's appeal was denied. It is said that the Congress has only paid Rs 2.5 crore thus far. The Delhi bench of the I-T Tribunal is still handling the matter. The Congress requested a stay on the I-T department's purported attachment of the bank accounts during the most recent ITAT hearing.

“The Revenue does not claim to have issued any order or direction to the concerned bank(s) for freezing the transactions in the bank account(s), but only for a lien on the amount lying in the bank account(s) up to the outstanding tax demand,” the ITAT bench stated, citing the learned Special Counsel for the Revenue's findings with the Assessing Officer's assistance.

The issue arose in 2018–19 when the old party submitted their income tax forms after the deadline. A demand for Rs 103 crore was made in light of the evaluation. Interest rates went up when income tax payments were not made on time.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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