Whispers Forum

The new Income Tax Bill presented by Nirmala Sitharaman in the Lok Sabha recently appears to be an important part of a larger effort to streamline the country's income tax system and increase revenue along with transparency. In the last 10 years, there has been a sharp increase in the number of people filing income tax returns and income tax collection. Still, a large number of rich people, many of them associated with the industry-business sector, either try not to pay income tax or pay very little. The income tax collected in many small economies of the world contributes significantly to their GDP. The complex words used in the old law have been simplified. Now 'assessment year' will be replaced by 'tax year'. The tax year will be from 1 April to 31 March. Certainly, the rights and powers of income tax officers have been increased in the new Bill. Along with this, efforts should also be made to increase the scope of income tax payers.
Anubhuti Mathur

The Maha Kumbh 2025 represents the spirit of “social cohesion” of the people of India that exists as an innate part of their culture, which goes beyond even national boundaries to profess the whole Earth as one family. The event is not for tourism in modern terms, no business opportunity but complementarity effort of the different sections of the community to lend a helping hand to make it a grand success free of any charge. This is the strength of Bharat, the real Bharat distinct from India. This was the norm till only 5 decades ago and is even now functional in the interior, Tier-II & III cities- visible on the occasion of marriage, when neighbours, friends and relatives “volunteer” to shoulder and share responsibilities and even financial help to some extent. This cooperative spirit had dwindled but not forgotten and the Maha Kumbh has proved it in the form of visitors exceeding 66 Cr. Ordinary people came forward to the aid of the government to ensure that the visitors are looked after well including their food (even free food).
M L Gupta