Sir, I draw your attention to compare Indian Panel code and Income tax. Theft or burgalary of Rs.50/ or any sum attract penalty & prison sentance for few months? Financial evasion of multi million RUPEES does not attract a single day imprisonment to any of office bearer who are liable for huge fraud. There are few citizen who obeys country's I T law. & in
This in general I like to convey public view that who is worried or care about INCOME TAX?
First of all that turn over limit for AUDITING Accounts limited to RS.40 lakhs a long back. There after prices of all commodities have gone up number of times,is it possible to maintain profit ratio with turn over ?Possibly not. There are lot of traders who's monthly turnover is more than than 40 lakhs, but profit ratio has declined,hence in view of I T Act, they keep Turn over to below Audit limit. If the Audit Limit is raised to 2 crores from present limit there are plenty of scope of getting tax revenue,by way of vat tax,octroi, income tax etc. Act once framed is not reviewed from time to time. How many tax payers are in India,compare the data since 1962. Have you increased staff strenght in comparison to Tax payers population.
This in general I like to convey public view that who is worried or care about INCOME TAX?
First of all that turn over limit for AUDITING Accounts limited to RS.40 lakhs a long back. There after prices of all commodities have gone up number of times,is it possible to maintain profit ratio with turn over ?Possibly not. There are lot of traders who's monthly turnover is more than than 40 lakhs, but profit ratio has declined,hence in view of I T Act, they keep Turn over to below Audit limit. If the Audit Limit is raised to 2 crores from present limit there are plenty of scope of getting tax revenue,by way of vat tax,octroi, income tax etc. Act once framed is not reviewed from time to time. How many tax payers are in India,compare the data since 1962. Have you increased staff strenght in comparison to Tax payers population.
If Fm has Courage and willingness then he can do few things to reduce corruption and expose the black money... 1. Stop current currency notes of Rs. 500 and 1000/- from use and ask all people to submit notes they have in any scheduled bank. At the same time make new notes available. 2. Try to reduce politicians' influence from Govt. activities by giving more power to Govt. officials. 3. many more.....
I'm damn sure Finance Minister will never do these things otherwise he'll have to lose his position...
If Fm has Courage and willingness then he can do few things to reduce corruption and expose the black money... 1. Stop current currency notes of Rs. 500 and 1000/- from use and ask all people to submit notes they have in any scheduled bank. At the same time make new notes available. 2. Try to reduce politicians' influence from Govt. activities by giving more power to Govt. officials. 3. many more.....
I'm damn sure Finance Minister will never do these things otherwise he'll have to lose his position...
stop the uses of 500 and 1000 notes , because all black money is available in these notes (check the CBI rades ) by that corruption is not stop by it becom toooo much low . if person wants 1 lac than he reciv 10 pkts of 100 rs notes OR 1 pkt of 1000 rs notes . soo its risky to reciv 10 pkts as compare to 1 pkt .
well start at the roots. who are the ones who want money for everything welll guys it is the ministers,those who have become ministers in the recent past are all billionaires, well how can that happen-what does a common man in india have today apart from problems and miseries. well people we are dumb we do not demand for our rights.we see ministers in page 3 ,in parties and glamourous weddings and with bollywood well guys their goes the country to the dogs. so before blaming babus blame the politicians.if the politicians are not so money minded then all well that ends well.
The only right and moral way to reduce corruption is less and less government. If government owns a transport organization or a textile mill (which is illegal) there is bound to be corruption in appointment, purchase of goods, contracts, etc. irrespective of checks and balances, audits, transparency and whatever method invented over 1000 years. The only right and moral solution is privatization. Lo and Behold there is no more corruption or even if its there its none of our business and no tax payer money is involved. The government MUST exit production immediately and just be a regulator and nothing else. This is the only way corruption can be reduced it never can be eliminated as government is still necessary for police, adjudication, military, RTO, etc. So let the government start privatising BSNL, Railways, indian airlines and all entities involved in production and services.
Anyone government official accused of corruption must face death sentance - for 2 reasons. This will effectively help reduce the population of 'unwanted' members of the society. Corruption must be equated to 'murder'. Second, it will bring back 'fear' and need to respect Law. Today, there is hardly any respect for law in the country. Even judges are corrupt. This is the only solution.
To root out corruption we need more transparancy, trimmed government machinary, do away with red beacons (symbolises lust for power and power to make money) for Babus and other government officials. Lessen the paper work and can have LAN (local Area Network) within the ministry with specific ID for responsible person. This will have two advantages; first it will be easy for people to find out where is the file exactly and secondly it will reduce the time taken to transfer the file from one table to another (some time it takes years) and require less workforce (often very luctant to work). In the digital world whenever we log on or search or do anything we leave a foot print and can easily be trekked rather than paper.
This is one of the most important way to improve the functioning, efficiency and fix the accountability. I hope I am making sense. This is possible with little bit of will power.
