IT Returns from Candidates

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Ravi_D - 20 April, 2009 | Bangalore | Elections | Taxes | Review | GOI | Lok Sabha | 2009 | Issues | Parties | Candidates

Curiosity led me to look at affidavits filed by lok sabha election candidates on http://www.myneta.info. Interesting. If I had a net worth of 108cr like Mr Surendra Babu (JD-S, B'lore North) does, I'm sure our tax collectors will shadow me everywhere I go. But not so for our candidates. Not even a PAN # seems necessary to register as a candidate, and taxes, hmmm, may not be necessary either. Forget IT (let us say livelyhood depends on agriculture), what about wealth tax?

Take a look at data for your favorite candidates. Let us assume that the data is correct (and also that NIL entry means no tax return filed). What a pity. India is a poor country, you see. Most of our candidates don't earn more than Rs 5 lakhs per annum, and hence didn't pay IT.

After a random check, here are some snippets. Krishna Byregowda (B'lore South) filed returns. Anantha Kumar seems to demand a due from IT dept. Rahul Gandhi says he paid up. HDK owns 1.78 Cr in bonds, debentures and shares, but doesn't declare IT or hasn't paid any wealth tax. I counted at least 13 buildings in the affidavit filed by BY Raghavendra, our CM's Son. Even if we consider he earns a pittance of Rs 5,000/- pm in rental per building (or deemed to have earned in fair marked value per IT code) he would have earned enough to be taxable in 8 months.

Some of these candidates have studied law and some have even completed masters. What an irony! I didn't know understanding our liabilities and filing an ITR is really that hard.

Ravi


COMMENTS

What is the EC doing then?

Rithesh - 22 April, 2009 - 14:10

Ravi,

Very valid observations. In spite of their incomes rising so dramatically in such short spans, how come neither the IT department nor the EC dig into the details.

The very purpose of filling these details was to encourage transparency and accountability. Even the media goes ga ga over their wealth, without questioning their source or mode of income.

If your observations are indeed true, these candidates can be easily disqualified by the EC. Doesnt the EC have suo moto powers to take up these issues?

Election Commission please wake up!!!

 

Ritesh,

The election commission has done its duty of collecting the information. Now the ball is in people's court to take the baton ahead and deal with the information.

This is what the Ex-CEC Gopalaswamy had to say on this - (Courtsey www.rediff.com)

We are skeptical about the announcements of assets of candidates in form of affidavit that EC accepts it blindly. Even Sonia Gandhi and L K Advani [Images] have got substantially more income, but people don't know how? What is their source of income?

Do you want everything to be done by others? Why is this information coming? It is to inform voters to decide whom to vote for. Second, the EC can't do more about it because if  EC ask candidates their source of income then it will take five years to conduct one election. Somebody will raise an issue, then I will have to do the inquiry.  

Someone will question my inquiry and I will go for further inquiry. How long it will take? It is not for the EC to get behind the affidavits. But, later citizens can always raise the issue that assets disclose while filing nominations is on false affidavit. The purpose to ask for affidavit is to enable citizens to ask the questions.

http://election.rediff.com/interview/2009/apr/21/loksabhapoll-interview-with-outgoing-cec-gopalaswamy.htm

Are we ready?

 

We know that these affidavits are  false affidavits and a blatant slap on the system that governs the election rules.

This brings us to the need for drastic electoral reforms as recommended by the Election Commission of India and being advocated time and again by Sri LK Jain and other learned luminaries. Soon after receipt of such false affidavits, copies must be sent to Income Tax Department to verify the verasity of tax returns filed, if discrepancies are noticed, then immediately disqualify such a candidate from contesting; if legal impediments come in and advise a chance of fair play to the accused, then set up a bench of Supreme Court / High Court to finalise such cases on a crash basis and in a time bound manner.  These are not improbabilities or impossibilities. If elctoral reforms are in place even such litigations can be avoided.   Chartered Accountants and other dignified bodies have the necessary wherewithals of expert jugglery and they are always in attendance to get such false declarations for  FAT FEE.  Moral and legal professional ethics are being given a go by. 

What can people do about it? How many of us can go on filing PILs on behalf of system administrators whose hands and legs are tied with loopholes ridden rules and regulations? If everything has to be done by people, then where is the necessity of codes, conduct rules, provisions, manuals, constitutional obligations?

What is the Income Tax Department doing? Are they not aware of declarations of false income tax returns except the hapless middle class babus whose saalaries are in black and white? Indians who are on the Forbes List are not paying income tax commensurate with their income.  

-Vasanth Mysoremath


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