Rationalisation of taxes

It is suggested that 1. all types of income, including agricultural income are taxed. 2. All types of exemptions are scrapped. 3. The income is linked to inflation index, with reference to payment of tax. 4. All payments above Rs 1000/- are to be billed and paid through cheques, credit cards and other recorded means only. No cash payment. 5. Income and charges collected by the professionals lawyers, doctors, auditors, engineers, etc are thoroughly checked with proof and any unaccounted income by the above elite may be recovered without any recourse to legal representation. more  

View all 68 comments Below 68 comments
Dear Sh. Kaul Sa'ab, It is okay to tax the company on the net profits, it is also okay to tax the directors on the individual salary. My questions are two pronged. Once I have paid tax on the profit of my company and on our individual salaries as directors, why should we pay taxes on purchases again, and if the government collect taxes, why is it not accountable for the utilisation of taxes thus collected ? There are many other questions. A babu gets old age benefits like pension and medical facility, what does he contribute extra as compared to an entrepreneur who creates jobs, supports the economy ? Why a tax payer entrepreneur is denied of these facilities in his old age when he / she is not able to work any more ? I can go on quoting real life examples where the government charged hefty taxes from entrepreneurs for various projects and then denied the facilities, raised objections, killed the projects, made the entrepreneurs suffer heavy losses. Babus are not held personally accountable when they err, a private citizen, on the other hand, can be penalised or jailed. I can again go on quoting real life examples. Sir, we only want transparency and accountability and abolition of excessive taxation. It is excessive taxation that has encouraged black money and parallel economy, that hurts the country. IT IS NOT SOCIAL SERVICE. IT IS NOT GOOD EITHER FOR THE GOVERNMENT OR FOR THE COUNTRY. IT ONLY ENCOURAGES BLACK MONEY AND BRIBERY. Babus support this system because of their vested interested as they get bribes because of the system. Any babu can destroy any business, I repeat, any business by misusing his powers and the powers are practically unlimited. THIS IS NOT SOCIAL SERVICE. I can quote real life examples of the businesses that were shut because of babus. THIS IS NOT SOCIAL SERVICE. I can't comment on your career or your personal life. Even a Prime Minister is unable to check this system of bribery. Babus have a fertile mind and they are experts at finding ways and means of getting bribed. THIS IS NOT SOCIAL SERVICE. THIS IS NOT EVEN PLAYING FIELD. THIS IS NOT FAIR. AND THIS MUST CHANGE. more  
Tej ji, It is not that I have not taken other things into consideration. It is a fact that we creat4 too much taxes and then the bureaucracy to cllect the same with about 75% of taxes spent on salaries and upkeep of bureaucracy. If you care to read the following, I am sure you will agree that the proposal for single taxation has been well thought of, though one more thing which is soverign guarantee againts Bank's going bust so that none has to worry about his funds needs to be added. I request all to read the proposal at http://www.arthakranti.org/proposal more  
Current bureaucracy is groomed on the lines of erstwhile rulers and are fully groomed to exploit, harass, humiliate, extort as their divine right. Even God cannot help the ordinary denizens of this country. more  
Respected Mr. Khurana ji, First of all, I am to say that I cannot imagine your experiencs as a business man as I have retired as an executive in a PSU. You have your own experiences about the behavior of some Babus of Income Tax and Service tax, which you tag it as harassment. It is a debatable issue as to how an entrepreneur gets taxed. I don't find anything wrong if the company or an establishment is to pay a tax on their net profits. Again when a director or partners get their salary why should not they be taxed as an individual. The entrepreneurs have an advantage to charge some of their personal expenses in the company or enterprise and then net profits are arrived at. Whereas such advantage is not available to an employee. If you are not convinced please suggest an alternate Taxation policy which suits this Big India. more  
tax on expenditure model is excellent. because i am in the Govt for 20L i am paying 3 L. what the MPs are paying ? nothing. but they are spending more than me. See what the IT says : half of the persons filing tax return are not paying any tax. IT in bangalore should insist on efilling only....otherwise it is wastage of paper and destruction of green cover. more  
Post a Comment

Related Posts

    • Senior Citizens retirement plans going for a toss

      For bank fixed deposits in India: 2016: 9.3% interest 2019: 8% interest 2021: 5.5% interest Senior citizens retirement plans must be under water unless they did enough ...

      By Aditi Jain
    • New Income Tax Portal System

      God news. A lot of time has been vested. In the Court, it may be advised that any future such new thing must be tested in all respect and by all stakeholders, before the due date I.e. 31/03 in this...

      By Hasmukh Sangani
    • Why income details must be given to broker

      Always wondered, why does an investor have to fill in income details with the broker? I buy shares if I have money. I do not need to have an income. And PAN number is a must. So why do you add this...

      By Aditi Jain
    • Bad news for small savers

      There won't be any cut in interest rate of Small savings schemes . Yesterday's decision to lower the interest rate is REVERSED

      By Jayanti Natarajan
    • Bad news for small savers

      Rates on small savings schemes reduced by 50-90 basis points. PPF in April-June quarter to earn you only 6.4% interest against 7.1% earlier. Senior Citizens Savings Scheme to earn on 6.5% now compa...

      By Vikram Gupta
    • Secured earning for Senior Citizens

      I raised this point on earlier occasions also. No relief seen in any budget. I made a suggestion as follows: There are some schemes exclusively for the benefit of Senior Citizens like Se...

      By SN Sitaram
    • Rounding off the amount in Bills

      Request guidance as to which is the appropriate circle & authority to whom i can complain regarding the below mentioned issue: Lately with many of my relatives and friends staying in Gurga...

      By Manas Hazarika
    • Great news for seniors

      Senior Citizens (above 75 years) who get pension and interest income only are exempted from filing returns

      By Azam Yusuf
    • The Govt salutes honest and compliant tax payers

      Recently our CBDT isued a press release saying it cannot punish compliant and honest tax payer by extending various due dates for the assessee who are dishonest, lazy and non compliant and our secu...

    • Can budget help with illiquid stocks

      Most of senior citizens are stuck with stocks of illiquid and delisted companies. To help them a window may be created to extinguish such stocks and set aside such investments against long term ca...

      By Aditi Jain
    • Waive off Tax for the Covid-19 period!

      Covid-19 has affected almost all citizens and residents of India. People are jobless and businesses are either shut down or in a loss. People are unable pay their EMI's. Loan moratorium relief was ...

      By Suhail Sayed
Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)