« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  SC dismisses ICFAI's plea against CFA Institute... Net direct tax collections up 42 % in April-August... » Got PAN? Pay Rs 180 more for LPG September, 07th 2007 PAN card holders (income-tax payers) may be in for a shock if this proposal manages to pass the political muster. Consumers of cooking gas, liquefied petroleum gas (LPG), may have to fork out more. The government plans to withdraw subsidies for taxpayers, which will hike cooking gas prices to almost Rs 480 a cylinder. The Cabinet is expected to discuss shortly a proposal to make all taxpayers holding PAN cards pay an extra Rs 180 per cylinder. It is proposed that LPG would now be sold through a smart card bearing PAN. PAN will be made an essential part of the proposed LPG smart card so that, in future, income-tax payers could pay the actual cost of LPG, an official said. The proposal has been raised at a committee of secretaries (CoS) constituted for implementing the recommendations of the expert committee on integrated energy policy. The CoS is headed by the cabinet secretary. However, changes in retail prices of fuel, particularly cooking fuel, have always been a politically-sensitive issue, since it impacts the vote bank. LPG prices were last raised in April 2005. The move is aimed at reducing the governments subsidy burden, an official said. Currently, the price of an LPG cylinder is subsidised by both the government (Rs 22.50/cylinder) and public sector oil marketing companies (Rs 190/cylinder). Consequently, consumers have a cushion of around Rs 212.50 per cylinder. The subsidy for cooking fuel is uniformly enjoyed by all consumers irrespective of their economic status. The government has been working on strategies to limit subsidies only for targetted consumers like families below the poverty line. PSU oil companies like IOC, HPCL and BPCL are incurring major losses due to the heavy subsidy burden on LPG and kerosene. In 2004-05, total under-recoveries by these PSUs on sale of domestic LPG was about Rs 17,842 crore, which jumped to Rs 28,584 crore in 2006-07. According to a source, the petroleum ministry has informed the secretaries panel that a pilot project for introducing smart card for all LPG users is under implementation. As per the expert committee report, a system of debit cards or smart cards may be introduced, whereby the targeted households get a credit of different amounts of cash for the purchase of these entitlements. The available credit on the debit/smart card can only be used for purchasing these entitlements. Card readers operated on battery and feeding data using mobile technology can work in rural areas of the country too.