Forum Whispers Forum — 14 Dec 2020
DEBATE(1)
Many Minus Gandhi Family- There is no dearth of leaders of the Yes Sir/Madam kind in the Congress Party. Successful Chief Ministers have no chance as usual. The voices of “conscience” of Emergency kind are notably flagged “dangerous’ in Akbar Road parlance- they don’t have the guts to act a Jagjivan Ram. What is left of the All India Congress Party? No Satyagrah, no non-violence, no sacrifice(material/political/social/financial), no vision, no mission, no socialism of the JLN kind, no respect for standards set by the likes of Lal Bahadur Shastri and other national leaders, no adherence to the ideology or vision of the real Gandhi, no integrated view of India as a sovereign nation, destroying family as the strongest institution of the Indian society by encouraging perversity and vulgarity in the name of creative arts, literature and films, no effort to unite India but divide to rule only, soft towards conversions of the poor by inducement and immoral means, fomenting trouble all the time, blatant disrespect for the ancient Faiths of India, lack of respect for others’ point of view, patronising corrupt bureaucrats destroying the spirit and pride of the public services(on the lines of Indira Gandhi after the Black Emergency), destroying institutions, institutionalising corruption, insulting the armed forces and their chief and their patriotism, insulting the judiciary and its chief, politicising even COVID-19 vaccine, love for committed press and electronic media only, friendship with the enemy bleeding India on a daily basis by terrorism, commission-khori in defence deals and other sensitive departments, destroying Small scale Industry, contempt for promotion of Khadi or/and village industry, going against the delicensing policy launched by Rajiv Gandhi audaciously in 1985 which struck at the roots of corruption prevailing in Licence Raj, revival of Licence Raj, preference for parallel government. Even if a leader tries to correct course now, Congress cannot be saved. Let another party of the real Gandhi’s ideals be born and rise from its ashes!
M L Gupta
DEBATE(2)
No body. Only poster boy of the Gandhi family is acceptable.
Vijay Tewari
Income Tax Return Filing
A Tiring Job Many steps have been taken to improve the income tax return filing, realising the fact that only 1.5 crores pay income tax in the country of population of 130 crores. This was observed by the highest authority and directives were issued to improve the system to make it tax payers friendly. There are less number of tax payers and paying tax honestly was also observed. This is subjective and debatable. But there is still scope to improve it further by knowing the grass root problems. Last date for filing returns is approaching fast i.e.31December 2020 for AY 2020-21. Tax payers are struggling hard to file the returns specially those .who are using ITR2 in filling schedule CG table 112A even thou tax payers have no liability to pay tax under Sec.112A. SSR case has given enough indications that in entertainment industries 60-70% of contract value is paid in cash which is outside of financial monitoring system of Govt. This excess cash gives rise to generation of black money, corruption and many other ill side effects. CBDT has to work hard how to really make the system transparent and uses electronic payment methods. Let the cash transactions be limited to only Rs.10,000/- which may help in increasing tax revenue when they are in system. There are some points worth considering to improve the ITR filing to make it painless and seamless: 1. Make the filing for all forms online directly using efiling portal like ITR1 without downloading, generating XML and again uploading the filled forms. We have best software experts and can make it feasible easily. 2. Make ITR2 optional if tax payers have no tax liability under Sec.112A. It is painful to fill the table with 60 odd entries in case mutual funds purchased using SIPs are redeemed. 3. Tax Authorities should give the format of table 112A to DMAT providers or intermediaries .to provide the information in the desired format to DMAT holders for calculation of LTCG in case of equity or equity oriented MFs so tax payers can directly lift the figures and fill it in case they are filing returns to show their CGs. 4. CBDT should close all old cases more than five years older where no tax liability is fixed leaving those cases which are in dispute, under scrutiny, in courts, in arbitrations or any other disputes so the tax officials can be utilised for more productive work to find the solution to assess the income of professionals and finding the methodologies to reduce cash transactions . This is major leakage of tax revenue due to cash transactions. Let us hope good results are achieved and return filing becomes painless and seamless.
Naveen