Skip to main content

Non-compliance being defended in name of privacy, says Jaitley

Stating that linking of Aadhaar with PAN was an effective anti-evasion measure, finance minister Arun Jaitley said on Monday that "non-compliance" were being defended in "the name of privacy".
Addressing tax officials to mark the Income Tax Day, the FM said a series of steps taken by the government were intended to expand the tax base, make processes more reasonable, make rates more reasonable, and enrich and empower the country.
"You take some effective anti-evasion measures like linking of PAN with Aadhaar to avoid multiple PAN cards or to keep a watch on the nature of expenditure that the expenditure is compliant with the declared income of an assessee, you will find noncompliances being defended these days in the name of privacy," Jaitley said.
"Now this is where we have to get out of, and the debate in favour of compliances has to be a debate based on creating a more ethical and a more complaint India." FM said net impact of demonetisation, benami law and other executive actions have created an incentive in favour of the honest man and were "intended to give sleepless nights to non-compliant and the dishonest"
"We cannot allow the traditional normal, which existed in India, to continue. Non-compliance itself had evolved into a standard operating procedure. These days we are finding political leaders resorting to this," Jaitley said, calling for setting deterrents against "such kind of practices" and "change in mindsets".
He said the tax department was resorting to use of technology to cut down interface with assessees.
"This will cut down on compliance cost, cut down corruption and harassment and therefore incentivise the honest taxpayer." He said the government was now working on ensuring transparency in political funding.
Get latest news & live updates on the go on your pc with News App. Download The Times of India news app for your device.
The Economic Times, New Delhi, 25th July 2017


Popular posts from this blog

At 18%, GST Rate to be Less Taxing for Most Goods

About 70% of all goods and some consumer durables likely to cost less

A number of goods such as cosmetics, shaving creams, shampoo, toothpaste, soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax (GST) regime as most items are likely to be subject to the rate of 18% rather than the higher one of 28%.

India is likely to rely on the effective tax rate currently applicable on a commodity to get a fix on the GST slab, said a government official, allowing most goods to make it to the lower bracket.

For instance, if an item comes within the 12% excise slab but the effective tax is 8% due to abatement, then the latter will be considered for GST fitment.

Going by this formulation, about 70% of all goods could fall in the 18% bracket.

The GST Council has finalised a four-tier tax structure of 5%, 12%, 18% and 28% but has left room for the highest slab to be pegged at 40%. A committee of officials will work out the fitment and the council…

Coffee-Toffee, the GST Debate Continues

Hundreds of crores of rupees in the form of taxes ride on the exact categorisation of products Is Parachute hair oil or edible oil? Is KitKat a chocolate or a biscuit? Is a Vicks tablet medicament or confectionery? For the taxpayer and the tax collector, this is much more than an exercise in semantics -hundreds of crores of rupees ride on the exact categorisation.
As the government moves closer to rolling out the goods and services tax (GST) on July 1, many such distinctions are being debated so that no ambiguity remains. Not just that, the government is revisiting old tax cases that were lost over product categorisation, according to people with knowledge of the matter, presumably with a view to making sure that revenue collections can be maximised. “In the past, several tax officers had challenged some of the product categorisations, including those in the retail segment, but lost out in court or at appellate level,“ said one of the persons. “Now we have a chance to go ahead with speci…

Deposit gush:-CA Institute Bats for Special Audit