Income Tax dept to share the information of taxpayers whose annual income exceeds Rs.10 Lakh to monitor LPG subsidy
 Source : News Bharati English  Date : 20-Dec-2016

New Delhi, December 20: The Income Tax department will soon begin sharing with the Petroleum and Oil Ministry details of all "individual" taxpayers whose annual income exceeds Rs 10 lakh, in an attempt to check thefts and robbery of subsidy on cooking gas by the higher income groups.
Also the personal details of taxpayers like his or her Permanent Account Number PAN, date of birth, gender and all available addresses in the I-T database, email-id and residential phone and mobile numbers are going to be shared by the tax department.

The Memorandum of Understanding will soon be signed by the Income Tax department with the Ministry in order to confidentially and safely begin this transfer of personal data.

The move has been approved by the policy-making body of the department, the Central Board of Direct Taxes (CBDT), in the backdrop of government's decision which had said that tax payers with annual income of more than Rs 10 lakh will not get subsidized cooking gas (LPG).

"This tax data with the Oil Ministry will ensure that all those who have income above Rs 10 lakh per year will automatically be barred from getting subsidized cooking gas cylinders. While some have already given up this subsidy voluntarily, there are many who have not given it up. "The government wants to check pilferage in this regard. The roll out of the process will begin soon," a senior official said.

At present, all households are entitled to 12 cylinders of 14.2-kg each at subsidized rates. The government has already asked well-off people to voluntarily give up using subsidized LPG and instead buy cooking fuel at market price.

The government, while announcing this decision last year, had said it "has decided that the benefit of the LPG subsidy will not be available for LPG consumers if the consumer or his/her spouse had taxable income of more than Rs 10 lakh during.