Ministry of Finance News
The body said, "We are sorry to say that nothing has been done so far in this regard." The body also referred to an apex court order where the Supreme Court had held that pension is valuable right vested in a government servant. Bharatiya Pensioners Manch has urged Prime Minister Narendra Modi to exempt pension from income tax.
"Everybody pays GST on their consumption unless they choose to buy without bills in black, a practice the Government obviously does not condone and which hopeful the ET does not want to encourage. Incidentally, the entitlements under the scheme have been worked out at full cost (i.e. including the GST element in fares)," stated the Finance Ministry.
The search also revealed that the assessee’s children are studying in USA on whom expenditure of approximately Rs 25 lakh per annum is being incurred The expenditure on account of education in USA prima-facie appears to be unexplained/ undisclosed. Further, the assessee is also running a B-Ed College as a Trust along with his mother The Trust is not registered and no return is being filed for the Trust though it has substantial taxable income
The Ministry of Finance on Saturday tweeted that a circular issued by Department of Expenditure to cut official spending due to the economic crisis will not affect or curtail recruitment for government jobs. The clarification was issued by the Centre hours after Congress MP Rahul Gandhi targeted the Centre over the circular issued on Friday. The circular banned some non-developmental expenditures to "ensure availability of adequate resources for meeting the needs of critical priority schemes".