Raising the issue during a discussion on the Finance Bill in Lok Sabha, Kirit Somaiya referred to super rich businessmen and said they are in the list of richest people in the world but did not pay adequate taxes.
He referred to income tax details brought out by the government recently to make his point that almost 98 percent of tax payers were salaried employees and self-employed people.
He referred to the Panama Papers and allegations of money-routing involving the kin of a former finance minister to make his point about lacunae in tax laws that allowed people to channel their money to abroad.
"Highest tax payers in our country are film stars or cricketers, not people who are among the richest in the world... We must take steps to increase the tax net. The richest manages to escape. There is anger in the salaried class. We should remove these loopholes," Somaiya said.
Somaiya also expressed unhappiness over the lack of use of information technology in the government including the finance ministry, saying this was the situation despite having a "most technology-friendly" person in Prime Minister Narendra Modi and India being a leader in the IT sector.
Jithender Reddy (TRS) Jitendra Choudhury (CPI-M), P Mithun Reddy (YSR Congress) and Bulo Mandal (RJD) also spoke during the debate.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
