Need examples to deter benami deals, says Jaitley

TIL Desk/Business/New Delhi/ Finance Minister Arun Jaitley has said example needs to be set to create a deterrent against use of anonymous people to hide ill-gotten wealth, amid some politicians and their family members coming under the scanner for alleged benami deals.

Referring to opposition of PAN-Aadhaar linkage, he said it is an “effective anti-evasion measure” and will get rid of multiple PAN cards and mismatch in income and expenditure, but it is being opposed “in the name of privacy”.

He also said that the government is using technology to reduce the interface between a tax department official and the taxpayer to not just cut compliance cost but also corruption and harassment.

Addressing tax officers at the Income Tax Day event here, he said that tax rates have to become more reasonable but for that to happen, the tax base has to be widened by including more people in the net.

“These days we are finding political leaders also resorted to (benami dealings),” he said, without naming anyone. “Therefore (we are) unearthing them.”