Financial Daily from THE HINDU group of publications
Tuesday, Jun 13, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jun 13, 2006 |
|
|
|
|
|
|
|
Opinion
-
Letters New I-T forms
Instead of wasting money and time in first issuing and then withdrawing new Income-Tax return forms, the Central Board of Direct Taxes (CBDT) and the Finance Ministry should simplify procedures that may prevent the necessity of approaching tax-consultants ever so often. A system to file annual TDS returns should be restored with a common last date. It is unfair that small businessmen are now forced to spend so much time and energy in filing quarterly TDS returns, while the government gets its revenue from TDS every month. Also, there should be common rates of tax-deduction, say, 10 per cent, for all except on payment made to contractors and from unexpected huge earnings such as lotteries or horse races, where TDS may be deducted at the rate of 2 per cent and 30 per cent respectively. Since TDS is only provisional, additions such as cess or surcharge need not be added to complicate TDS. Madhu Agrawal Delhi
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
More Stories on : Letters | Income Tax
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|