Hefty power bill may become I-T criterion

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New Delhi, February 15:: In a bid to revamp one-by-six scheme for compulsory filing of income tax returns, the government is likely to include payment of electricity bill exceeding Rs 20,000 in a year as one of the criteria under the scheme in the forthcoming Budget.

Once bitten, twice shy!

The FM doesn’t want to be ranked (FE dated Feb 15), and CII has gladly obliged. CII D-G Tarun Das has said, “We will certainly offer our comments, may be even use adjectives like ‘good’, ‘better’, or ‘excellent’, but unlike last year, we won’t rank the budget”. Touche!

According to sources, the move is expected to be part of the modifications in the scheme which may also exclude those paying telephone bills below Rs 20,000 per annum from the compulsory requirement of filing income tax return, or remove subscription to telephone as a criterion altogether. They said that it has been felt that some modifications are required in the application of current economic criteria.