11 Measures taken by CBDT recently to simplify Tax Compliance

0 Comments

1. P Aravindhan says:

   There is nothing simple about new procedure for 15G/15H. Huge cost of compliance added to Banks.
   CBDT is still in the process of issuing guidelines on “simplification of 15G/15H” but they want compliance from 1st October. Hardly a week was given for compliance, which is nothing but TDS terrorism.

     Reply

   December 17, 2015 at 11:41 am
2. Rajashekar Nadig says:

   1) As per the latest information provided by Directorate of Income-Tax (Systems), New Delhi against application filed U/s 6(1) of RTI Act, it is evident that only 69,630 CAs are practicing, who are unevenly spread throughout India. India is highly populated country, existing number of practicing CAs does not meet the requirement of our economy. Due to ceiling on number of tax audit, Non-CA Tax Professionals handling tax audit cases have to roam around in search of empty slots of CAs to give compliance in case of their clients during due dates. This has also resulted in high cost of compliance, due to high demand & extra payment made for reservation of empty slots of CAs.
   (2) CA Certificates in Income-Tax Act are causing strict hurdle for voluntary compliance not only in Income-Tax Act, but also in other Central & State Govt. taxation laws. In another 10 years, Non-CA’s who entered the Tax Practice in 1980’s will all eliminate & Govt. has to rely on only CA’s for seeking compliance under all Indian taxation laws. Strenuous efforts of Institute of Chartered Accountants of India to expand the demand & supply gap of Chartered Accountants since 1984, with the motto of giving full employment to existing 69,630 practicing CA’s throughout India, have increased the cost of voluntary compliance of return filing in Non-Corporate Tax Audit cases under Income-Tax Act.
   Can any one provide me that any of the measure to redress the problem mentioned in Para No.1 & 2 above have been included in these 11 measures taken by CBDT on 15h December 2016
   Reply
   – credit BSK Rao

     Reply

   December 17, 2015 at 11:19 am
3. BSKRAO says:

   (1) As per the latest information provided by Directorate of Income-Tax (Systems), New Delhi against application filed U/s 6(1) of RTI Act, it is evident that only 69,630 CAs are practicing, who are unevenly spread throughout India. India is highly populated country, existing number of practicing CAs does not meet the requirement of our economy. Due to ceiling on number of tax audit, Non-CA Tax Professionals handling tax audit cases have to roam around in search of empty slots of CAs to give compliance in case of their clients during due dates. This has also resulted in high cost of compliance, due to high demand & extra payment made for reservation of empty slots of CAs.

   (2) CA Certificates in Income-Tax Act are causing strict hurdle for voluntary compliance not only in Income-Tax Act, but also in other Central & State Govt. taxation laws. In another 10 years, Non-CA’s who entered the Tax Practice in 1980’s will all eliminate & Govt. has to rely on only CA’s for seeking compliance under all Indian taxation laws. Strenuous efforts of Institute of Chartered Accountants of India to expand the demand & supply gap of Chartered Accountants since 1984, with the motto of giving full employment to existing 69,630 practicing CA’s throughout India, have increased the cost of voluntary compliance of return filing in Non-Corporate Tax Audit cases under Income-Tax Act.

   Can any one provide me that any of the measure to redress the problem mentioned in Para No.1 & 2 above have been included in these 11 measures taken by CBDT on 15h December 2016

     Reply

   December 16, 2015 at 7:27 pm
4. Nem Singh says:

   Good decision but there should be procedure reforms in the concerned departments so that the assessee feels good and motivate to pay more taxes.

     Reply

   December 16, 2015 at 4:48 pm