IT returns needed for gas subsidy

The government of India seems to be tightening its grip on gas subsidy. The government has previously started a ‘give up’ campaign encourging the high profile citizens to voluntarily give up their gas subsidy. But despite huge campaigning, this initiative has failed to generate worthy statistics. Even though the government claims that 70 lakh people has given up their subsidy, most of them has done it as they have shifted to piped natural gas.

The government has later on announced that taxpayers with an annual income of more than Rs 10 lakh will not get subsidised LPG cylinders. But this too has not yielded great results, as it was dependent on self declaration basis. Now that most of the government initiatives to curb subsidy as gone in vain, petroleum ministry is now seeking the permission of Central board of Direct Taxes (CBDT) to avail the information of IT returns to identify people above 10 lakhs of income. If the CBDT allows such permission, you will soon has to submit a copy of your IT return to the gas company, declaring that your income for this year is below 10 lakhs and you are eligible to for the gas subsidy.