PM Kisan beneficiaries: FinMin notifies norms to share info about taxpayers

In purchase to ensure exclusion of non-qualified beneficiaries of PM Kisan plan, the Finance Ministry has notified norms underneath the Revenue Tax Act to share info about revenue tax assessee.

Normally, the Revenue Tax Section does not share info about individual assessee, however, there is 1 section of the Revenue Tax Act, 1961 that enables exceptions. It has authorized the Joint Secretary (Farmers Welfare) in the Section of Agriculture, Coooperation and Farmers Welfare in the Ministry of Agriculture and Farmers Welfare to get info concerning revenue tax assessees for identifying the qualified beneficiaries underneath the PM-KISAN Yojana, according to a notification issued by the Finance Ministry.

“In pursuance of sub-clause (ii) of clause (a) of sub-section (one) of Portion 138 of the Revenue-tax Act, 1961, the Central Federal government hereby specifies Joint Secretary (Farmers welfare), Section of Agriculture, Cooperation and Farmers Welfare, Ministry of Agriculture and Farmers Welfare, Federal government of India, for the needs of the reported clause in link with sharing of info concerning revenue-tax assessees for identifying the qualified beneficiaries underneath PM-KISAN Yojana,” the notification reported.

The PM Kisan plan, operational from December one, 2018, offers an revenue aid of ₹6,000 every year in 3 equal instalments to smaller and marginal farmer people (covering just about 86 per cent of whole farmers) getting merged land keeping/possession of up to 2 hectares.

On May possibly 31, the govt resolved to grow the plan to all qualified farmer people irrespective of the dimension of landholdings. It means all 14.5 crore land keeping farmers are now qualified to get the reward. A sum of ₹75,000 crore has been furnished underneath the plan for FY2020-21.

There are exclusion requirements for the plan. Accordingly, some types of beneficiaries of better economic position have been outlined which will not be qualified for reward underneath the plan. These incorporate all Institutional Land holders, former and current holders of constitutional posts, former and current Union & State Ministers/MPs/MLAs/Mayors of Municipal Businesses/Chairpersons of District Panchayats, former & serving Federal government or PSU staff members, all superannuated/retired pensioner with monthly pension ₹10,000 or more, Revenue Tax payer and specialists like Health professionals, Engineers, Legal professionals, Chartered Accountants, and Architects registered with qualified bodies and carrying out profession by undertaking methods.

Technically speaking, farm revenue is exempted from revenue tax and farmers typically do not file revenue tax return. Preserving this in mind, an arrangement has been created as a result of info sharing to weed out such land keeping farmers from the plan based on the exclusion criterion.