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3.7 lakh cos did not file annual returns


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prem menon
Let finance minister understood how lousy our system of filings
by prem menon on Apr 30, 2010 05:09 PM

Tax structure to be abolished, simple tax under two heads should adjust. so every one on line filing along with payment can take place. Let Income tax fellows go each and every transaction on line ubstead wasting time on annual returns and harrassing people & companies. S& P had 70000 Multi national companies Balance sheets tabulated in India every day by 3000 Indian staff. each day balance sheet Profit & loss account is generated. similar package why neelakani shouldnot be entrusted the job like Unique identification project. Tax man job is simple every day on line he can visualise and on & off searh the records of that company, We have too much of tax staff, & cumbursome procedures, burocracy spoil the total game. put Tax people accountability. They will render you the result. rather like with stick, let them straight supervise on online & take on each transaction on line. so no evasions.

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niraj upadhyay
filing of returns on time!!
by niraj upadhyay on Apr 30, 2010 12:15 AM

corporates care a hoot about filing these returns... they file only if they feel like it, whether with fine or without...

wonder if banks ask for a copy of the latest annual return before they open a bank account!!

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