Income Tax Filing Online India
Question: I need your comments please ! I have a 8 point programme for a Corruptionless India?
1. Every citizen should be provided with a permanant account number
2. Cash transactions should be discouraged by printing money upto the denomination of Rs.100.00 only
3. All transactions above Rs.1000/- to be made through banks with dr/cr card, funds transfer, chq/dd or online payments.
4. All taxes (IT,ST,cess,ED,service tax etc.,) should be dropped. Only transaction tax of 1% on each bank transaction let it be debit or credit to be levied and automatically transferred to treasury a/c. (I think this will be sufficient to replace all the taxes)
5. Banks should maintain one a/c and give uniform interest.
6. If all taxes are dropped, somuch of paper work and filing of returns, maintainance,inspecting and scrutinising will vanish & the people used for this purpose can be utilised to do for more productivily
7. If cash transactions are discouraged, then corruption,black money etc. will fall to nil.
8. budget only for proper expenditure and need not worry abt income.
Answer: the programme is fine and I believe throughout the process, the program can be modified and improvised according to the developments…
But the question is, what will be the force neeeded to execute the program??? the parliament? army??? an institution?? religious leaders??
ICAEW Annual Dinner
My thanks to the Institute for the opportunity to speak this evening, and for all the support and advice that the Institute and its members give to us.
