Within the past three days, the Income Tax Department has issued a notice to the Congress party demanding a tax payment of 3,568 crore rupees. Now, Congress will have to pay nearly double the tax on its total assets.
The notice sent by the Income Tax Department is part of an ongoing issue. On March 29, 2024, a notice demanding payment of 1,823 crore rupees was sent, followed by another notice on March 31, demanding 1,745 crore rupees in taxes for the years 2014 to 2017. With all the notices received in the past two days, the tax demand on the Congress has increased to 3,568 crore rupees. Currently, the biggest challenge for the party is to pay nearly double the tax on its total assets.
A report by NDTV reveals the reason behind the notices. The report claims that during income tax searches in April 2019, it was discovered that the Congress party had received cash from two major companies. The report also alleges that the Income Tax Department has corroborated this through various documents, WhatsApp messages, and recorded statements.
Congress ignored this provision of the Income Tax Act
The Income Tax Department grants exemptions to political parties under Section 13A of the Income Tax Act, subject to certain conditions. These conditions include not accepting cash exceeding 2,000 rupees. However, the Congress party did not fulfill this condition, leading to the denial of tax exemption.
How much property does Congress have?
In its latest income tax return for the year 2023-24, the party disclosed that it has approximately 657 crore rupees in funds, 388 crore rupees in cash, and 340 crore rupees in net assets. In total, the party currently has around 1,430 crore rupees.
Will taxes have to be paid before the elections?
So far, Congress's biggest challenge has been how to pay such a large amount during the election season. The party filed a petition in the Supreme Court on this matter, which was heard on Monday, April 1. Solicitor General Tushar Mehta presented arguments on behalf of the Income Tax Department.
In this case, Congress has been granted relief until July. The Income Tax Department assured the Supreme Court that no action would be taken to recover these funds considering the electoral season. The court has scheduled the next hearing for July 24.
Congress accuses the central government.
Prior to this, Congress accused the central government of using the Income Tax Department to destabilize the party before the Lok Sabha elections. The party alleges that the central government wants to destabilize it before the Lok Sabha elections.
Rahul Gandhi also criticized the Income Tax Department in this matter. After a Congress working committee meeting, he said it seemed like democracy in India had come to an end. He said our accounts had been frozen, and millions of notices were being sent. However, the country's media, election commission, and courts remain silent. Everyone is watching the spectacle. There is a conspiracy to end democracy.
On the other hand, Congress senior leader Vivek Tankha shared a post on the social media platform X, saying - this is the epitome of madness. In the past three days, Congress has demanded astronomical figures of 3567.33 crore rupees. Thanks to the dedicated officers of the Revenue Department for BJP's mission of Congress-free India.
BJP responds to these accusations
Meanwhile, BJP has accused Congress President Mallikarjun Kharge, former President Rahul Gandhi, and other Congress leaders of making false statements. The party says that instead of making false statements, Congress should focus on paying taxes following legal procedures.
BJP's national spokesperson, Syed Zafar Islam, said in a statement that Congress leaders' allegations are baseless, and therefore, their arguments do not hold anywhere. He said that Congress leaders' making unfounded allegations against the Income Tax Department and the courts shows their frustration.
When does the income tax notice come, and what should be done?
If any individual conducts transactions of more than 10 lakh rupees from their account and does not provide this information to the Income Tax Department in their income tax return, they may receive a notice. Furthermore, if the credit card bill exceeds 1 lakh rupees, there is a possibility of receiving a notice. Similarly, when buying a house, if more than 30 lakh rupees is deposited in cash, the department may send a notice to inquire about the source of the funds.
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