Monday, December 28, 2015

No LPG subsidy if taxable income exceeds Rs 10 Lac

Benefit of LPG subsidy will not be available if the consumer or his/her spouse had taxable income of more than Rs Ten lakh in previous financial year 
At present, there are 16.35 crore LPG consumers in the country. With the implementation of the PAHAL Scheme (DBTL), the subsidy is being transferred directly to the Bank Account of 14.78 crore LPG Consumers. The objective of the scheme was to ensure that the subsidy benefits go to the targeted group. The Government had also given a call to the well-to-do households for voluntarily giving up LPG subsidy. So far, 57.50 lakh LPG consumers have opted out of LPG subsidy voluntarily heeding the call given by the Prime Minister. The subsidy saved from the ‘GiveitUp’ campaign is being utilized for providing new connections to the BPL families under the ‘Giveback’ campaign. This enables provision of LPG, a clean fuel, to poor households by replacing the conventional fuels such as kerosene, coal, fuel wood, cow dung, etc. relieving the poor of the hardships and health hazards from such fuels.

While many consumers have given up subsidy voluntarily, it is felt that consumers in the higher income bracket should get LPG cylinders at the market price. Therefore, the Government has decided that the benefit of the LPG subsidy will not be available for LPG consumers if the consumer or his/her spouse had taxable income of more than Rs 10,00,000/- during the previous financial year computed as per the Income Tax Act, 1961. In keeping with the approach of trusting the citizens, this will be given effect to initially on self-declaration basis while booking cylinders from January 2016 onwards. 

Source : PIB Release

1 comment :

Vishnu Chari said...

MPs and MLAs will continue to get subsidy because their income does not exceeds 10 lakhs as per govt. norms. Before issuing such orders it would be prudent on the part of govt. to first remove MPs, MLAs, MLCs and other political appointees from subsidy list followed by rich farmers and professionals who are practicing privately and earning much more than 10 lakhs but shows much less in their income tax returns. The next step should be to remove all family members of NRIs who are residing in India.

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