Please stop issuing TDS exemption certificates or issue it after due scrutiny of the persons mainly to those individuals having commission / brokrage income. They are misusing it. I have seen individuals getting more than Rs.10 lac as commission but enjoying nil or very low exempted rate of TDS on basis of fictitious business expenses. Whereas the salaried class on an average pays about 10 to 12% of income as tax. Withdrawing the TDS exemption facility will result in reduced black money, reduced inequality of income,more tax to the government.
Secondly, the govenment should gear up its machinery in form of Social security and labour welfare measures mainly PF and ESI and make them compulsory for all. Education should also to be linked to these measures in order to provide more benefit to all concerned.
Re: INCOME TAX
by Atis Mitra on Feb 20, 2010 03:43 PM Permalink
The whole system of financial science is a fraudulant subject-only luring people to look for more like lottery with some efforts
