Flat Income Tax rate of 10%: I think you are trying to implement it this time. This is a step in right direction. This will free govt machinery who do all the calculations and monitoring so that everyone pay taxes in time. Calculation of 10% is simple- everyone can file it easily, even villagers. Also more and more people will try to get as much benefit as possible of declaring white money as it will not also pinch them. Black money economy will reverse in India and in the next 5 years much of white money will come and compensate any revenues losses.
