« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals «  Church to declare holy war on tax havens!... Ministry effects major transfers in I-T Dept... » Panel suggests imposition of Graduate Tax August, 20th 2007 A parliamentary panel on human resources has suggested taxing students who take up overseas jobs after passing out from premier institutions in the country and employers for each graduate recruited by them in order to recover the cost of higher education. Parliament's standing committee on human resource development has recommended the imposition of "Graduate Tax" and "Exit Tax", saying such levies are already in vogue in some countries. The panel's report said the Graduate Tax was levied on those who use the services of skilled and trained manpower. "An employer is required to pay an annual tax to the government for each graduate recruited by it," the committee said, while admitting that the scheme had a major drawback as it might lead to the substitution of university graduates with less educated manpower. "Nevertheless, the committee feels that taxing employers based on the type and number of manpower they use has a good rationale and should be considered seriously for implementation," the report said. The human resource development ministry, in its reply, said the committee's suggestions would be conveyed to the finance ministry and the University Grants Commission. The committee said the imposition of Exit Tax on students immigrating to taking up jobs after obtaining their degrees, particularly from premier institutions which are run with massive state subsidies, was suggested by some experts.