Take immediate action against CAs facilitating corrupt businessmen to evade tax.
In India, the biggest evasion of tax is done by businessmen who have loads of black money and are assisted by Chartered Accountants (CAs) for this purpose. Income Tax department is hardly efficient in handling raids because of extreme corruption within. There is only one way to end this. It is not the businessmen who are at fault here, because there is no way to earn money otherwise. It is these CAs who should be put behind the bars. I urge the Central & State Governments to take immediate action against these faulty CAs who are actually the root cause of this huge problem.
IT department is used to collecting bribes by catching these businessmen time and again. CAs also make good profits out of these raids by the IT department, mostly be mediating the deal. Even if taxes are made simpler, unless black money's root cause (these corrupt CAs) is controlled, nothing in this system will change. Most of the property dealers use these CAs for making their black money white. This entire nexus is just the tip of this iceberg called Black Money. That is why, it is all the more important to take immediate action against these corrupt Chartered Accountants. I hope I have not gone too far in explaining this. more
IT department is used to collecting bribes by catching these businessmen time and again. CAs also make good profits out of these raids by the IT department, mostly be mediating the deal. Even if taxes are made simpler, unless black money's root cause (these corrupt CAs) is controlled, nothing in this system will change. Most of the property dealers use these CAs for making their black money white. This entire nexus is just the tip of this iceberg called Black Money. That is why, it is all the more important to take immediate action against these corrupt Chartered Accountants. I hope I have not gone too far in explaining this. more
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COMPREHENSIVE , COMPLETE AUDIT OF THE BOOKS OF ACCOUNTS IN TERMS OF QUANTITATIVE ISSUES SHALL BE MADE A MUST TO BE AWAY FROM THE ILL-BUSINESSING BESIDES STRICT POLICING , STRINGENT LAW IMPLEMENTATION AND PARTICULARLY ARRESTING POLITICAL BACKING OF THOSE SUCH BUSINESSMEN. NECESSARY SEMINARS SHALL BE CONDUCTED BY THE ICAI IN ALL ZONAL AND REGIONAL COUNCILS TOO FOR REORIENTATION OF PERFECT AND ACCURATE FOLLOW OF ACCOUNTING WHICH WILL HELP TO MOULD CANDIDATURE. more
Mar 30
Supply chain deficiencies give rise to black money. Likewise in bigger transactions, CAs make use of the loopholes within the existing system. Both have to be handled in a calculated manner. more
Mar 23
1. UNLESS GOVERNMENT GET BACK THE AUTHORITY AGAIN TO ASSESS AND TAX ON WEALTH OF INDIVIDUALS , NONE CAN IMAGING A CONTROL ON BLACK MONEY. 2. COMPLETE & COMPREHENSIVE AUDIT WITH QUANTITATIVE ANALYSIS OF PURCHASE , PRODUCTION , SALES AND STOCKS , EVALUATING THE PROCESS LOSS ETC., LOOP-HOLES SHALL BE PERFECTLY RE-ESTABLISHED . 3. LORRY TRIP WAY BILLS ARE BEING ERASED AND BEING USED FOR MULTIPLE DESPATCH OF LOADS UNDER ONE INVOICE & CHALAN AND SO, NON-ERASABLE WAY BILL SYSTEM SHALL BE IMPLEMENTED. THE REST SOLUTIONS ON CURBING BLACK MONEY ARE SUFFICIENT PLEASE. more
Mar 18
Spare some time to discuss on this issue and share your views on how tax evasion and money laundering can be handled. Is the current proposal on Black Money sufficient to handle this Huge Problem of Tax Evasion ? more
Mar 18
