No LPG subsidy for those who earn more than Rs 10 lakh per year

No LPG subsidy for those who earn more than Rs 10 lakh per year

By: || Updated: 28 Dec 2015 05:44 PM
New Delhi: Narendra Modi government has decided to stop giving subsidy on LPG cylinders to families that earn more than Rs 10 lakh per annum.
According to reports, the government will soon issue a notification for this.
People will have to furnish a self declaration that their salary is less than Rs 10 lakh to avail subsidy on gas cylinders.
This decision will come in effect from January 1.
According to the Parliamentary Committee Report on the Direct Tax Code (DTC) headed by Yashwant Sinha, the total number of individual taxpayers (2011-2012) that earned more than Rs. 10 lakhs were 17 lakhs 84 thousand.
That is 5.6 percent of total 3.24 crore taxpayers.
Prime Minister Narendra Modi had been encouraging people to give up gas subsidy on their own. He had been saying in his speeches that lakhs of people had responded to his appeal and gave up gas subsidy.

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