Financial Daily from THE HINDU group of publications
Monday, Feb 13, 2006
Financial Daily from THE HINDU group of publications Monday, Feb 13, 2006 |
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Opinion
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Letters Easy tax reform
The Finance Minister, Mr P. Chidambaram, has started the exercise of meeting trade bodies, economists, trade unions, big business houses and consumers in the run-up to the Budget. May I request him to give a serious reading to the Kelkar Report on Indirect and Direct Tax Reforms. The report attempts at giving the Indian tax-payer a user-friendly tax system. The applauding features of the direct tax report were creation of a transparent tax system built on trust, reduced compliance costs; removal of complex exemptions; widening of the tax base with lower rates and introducing easy and simple reforms.
The 300-page indirect taxes report too had covered all major issues in a comprehensive manner. Last year's Budget come nowhere near the objectives of the Kelkar Report. The complex FBT has been a step backwards from the objective of simplification. The Finance Minister may leave out the housing sop and SSI exemption issue of the Kelkar report and implement the simplifications related to issues that will garner support from all quarters. Sushil Mehra Bangalore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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