Spotlight

New Delhi, 2 January 2007

DATABASE FOR PRIVATE TEACHING CENTRES

NEW DELHI, January 3 (INFA): The Public Accounts Committee of Parliament has expressed concern about the Ministry’s failure to have an updated database in respect of the financial positions of private educational institutions and coaching centres in the country.

The Committee had earlier strongly recommended the need for the Ministry to create a reliable database.  It had pointed out that there were a number of irregularities in the finances of private schools, colleges and coaching centre.

It has been noticed that non-availability of database of private educational institutions, bulk of their income-tax assessments were completed in a summary manner. The Income-Tax Department was thus unable to widen the tax base by identifying such institutions.

In their original report on the subject, the Committee had observed that adequate steps had not been taken by the concerned authorities to bring all the private educational institutions into the tax net through adequate and focussed use of the powers to conduct surveys.

Expressing their concern over the insufficient utilization of the power of survey given to the assessing officers, the Committee had desired to be apprised of the details of the cases, which were brought under the tax net during the preceding two years, assesses that have been brought to tax net and the amount of additional revenue realized from them.

The Committee has noted that no progress has been made by the Income-Tax authorities in identifying the new assesses and in collection of additional revenue from the survey of private educational institutions conducted during the year 2004-05.

Considering the fact that the private schools, colleges and other educational institutions have consistently been collecting huge fees and other charges from the students, the Committee has desired the Ministry of Finance (Department of Revenue) to closely monitor survey operations at the highest level, with a view to realizing the potential tax from these institutions.

While observing that separate yet overlapping clauses in the Income-Tax Act providing exemption for educational institutions are being misused, the Committee in their original Report had recommended that the existing tax laws should be made simpler and clearer in consultation with the Ministry of Law and the lacunae in the law, if any, should be plugged suitable. ---INFA

GOLCONDA FORT WORLD HERITAGE SITE

HYDERABAD, January 3 (INFA): The magnificent Golconda Fort on the outskirts of Hyderabad city could well be on its way to become a world heritage site.

A dossier about not only the Fort but also the Qutab Shahi tombs is being prepared to be submitted to the UNESCO, Paris, for including them in the world heritage site’s list.

If this bears fruit, they would be the first in Andhra Pradesh to get such a recognition, a feather in the cap of the State. ---INFA