Whispers Forum — 2 Jan 2020
DEBATE (1)
In my view Naveen Patnaik followed by Sharad Pawar. Patnaik will make good PM while Pawar with his experience will do well.
Raghu Thakur
DEBATE(2)
None...if any body claims so.. CBI ED raid Tihar jail will be waiting for him.
Venkateswara Rao Dhulipala
Only Modi can ensure justice !
Govt. does not fill Group "A" level posts, for the sake of charity or generosity. Recruitment at Group A level is always done strictly as per requirement of Govt. For filling up the posts of ACs from promotion in 2014, due approval of DOPT, UPSC & ACC was taken by the CBIC. The arrogance & ignorance of Mr. Vikas Singh has been revealed through his write up. Are Supdts. & Appraisers responsible for stagnation, or policies of Govt. ? 9 officers who have joined the Department as Appraisers have been promoted to the rank of Commissioners vide Office Order no 158/2019 dated 29/11/2019 issued by CBIC. Is it a crime to aspire for promotion ? Yes, if CBIC can manage to meet or surpass the targets of CGST collection without their services, revert them! This is not British Rule. This is Modi Government, so choose your words and action carefully. It is requested that PMO must intervene in this matter urgently and Promotee ACs of 2014 should also be promoted to DC in STS pay scale after 4 years of service, before the junior direct recruit ACs of (2015) are promoted to the rank of DC. CBIC has already done grave injustice by promoting direct ACs of 2014 on 1st Jan 2019 to the rank of DC (who have joined the service after Promotee ACs of 2014) and overlooking Promotee ACs of 2014 batch. Only clear cut instructions from Prime Minister Narendra Modi can ensure justice for promotee ACs of 2014 of CBIC.
Vijay Mahadevan
LTCG on transfer of equity shares/equity oriented MF
Till FY 2107-18 LTCG on transfer of equity share and units of equity oriented MF was exempted under section 10(38). Vide Finance Bill 2018, the new section 112A has been inserted in order to levy long-term capital gain tax on the transfer of equity share, units of equity oriented funds and units of the business trust. Further, in order to levy long term capital gain tax @10%, the capital gain should be exceeding INR 1 Lakh. It means there is no tax liability upto 1 lakh. The attention of FM and PM is drawn why un-necessary details are being asked in ITR even if LTCG in such cases is less than 1 lakh or loss. It is understood that notices have been issued for mismatch and it is really a difficult for CPC task to match each and every entry of ITRs knowing well there is no tax liability from assesses side and no revenue to the Govt. Cases can be understood and details are required if LTCG in such cases exceeds 1 lakh. Simply the information can be asked as per Sec112A for reporting purpose as was being followed till FY 2107-18 under Sec 10 (38). Secretary, Revenue is nodal authority and should take up the case with CBDT for simplification of the procedure as it helps both sides. There is wastage of time, manpower and financial resources etc without any revenue. The same resources can be used for some innovative solution of prevailing situations and plugging the revenue leakages. It is well known that a small mistake may invite big problem and may be the first step towards harassment of tax payers. To avoid such situations and problems let us follow the simple solution of the problem. We can still workout better method to increase revenue by withdrawing LTCG tax i instead increase STT which is simpler way of collecting taxes. Whenever there is a transaction STT is calculated and deposited by the stock exchanges in Govt, accounts on settlement. Each and every transaction gives the revenue to the Govt. without involving tax payers and tax authorities. No complexity in filing ITRs and wastage of resources by the Govt. and still there is increase in revenue. These are simpler way of boosting the revenues and sentiments of the investors. This will make the tax payers life simpler specially salaried class, sr. citizens, pensioners who mostly files ITR1. The tax compliance is highest in this category and we should make their life simple not complex. Let us hope for good solution.
Naveen
Excellent move by GoI
John Joseph -Excellent move by GOI. Due has been given to bold and dynamic officer.
Sanjeev Kabbur
In my view Naveen Patnaik followed by Sharad Pawar. Patnaik will make good PM while Pawar with his experience will do well.
Raghu Thakur
DEBATE(2)
None...if any body claims so.. CBI ED raid Tihar jail will be waiting for him.
Venkateswara Rao Dhulipala
Only Modi can ensure justice !
Govt. does not fill Group "A" level posts, for the sake of charity or generosity. Recruitment at Group A level is always done strictly as per requirement of Govt. For filling up the posts of ACs from promotion in 2014, due approval of DOPT, UPSC & ACC was taken by the CBIC. The arrogance & ignorance of Mr. Vikas Singh has been revealed through his write up. Are Supdts. & Appraisers responsible for stagnation, or policies of Govt. ? 9 officers who have joined the Department as Appraisers have been promoted to the rank of Commissioners vide Office Order no 158/2019 dated 29/11/2019 issued by CBIC. Is it a crime to aspire for promotion ? Yes, if CBIC can manage to meet or surpass the targets of CGST collection without their services, revert them! This is not British Rule. This is Modi Government, so choose your words and action carefully. It is requested that PMO must intervene in this matter urgently and Promotee ACs of 2014 should also be promoted to DC in STS pay scale after 4 years of service, before the junior direct recruit ACs of (2015) are promoted to the rank of DC. CBIC has already done grave injustice by promoting direct ACs of 2014 on 1st Jan 2019 to the rank of DC (who have joined the service after Promotee ACs of 2014) and overlooking Promotee ACs of 2014 batch. Only clear cut instructions from Prime Minister Narendra Modi can ensure justice for promotee ACs of 2014 of CBIC.
Vijay Mahadevan
LTCG on transfer of equity shares/equity oriented MF
Till FY 2107-18 LTCG on transfer of equity share and units of equity oriented MF was exempted under section 10(38). Vide Finance Bill 2018, the new section 112A has been inserted in order to levy long-term capital gain tax on the transfer of equity share, units of equity oriented funds and units of the business trust. Further, in order to levy long term capital gain tax @10%, the capital gain should be exceeding INR 1 Lakh. It means there is no tax liability upto 1 lakh. The attention of FM and PM is drawn why un-necessary details are being asked in ITR even if LTCG in such cases is less than 1 lakh or loss. It is understood that notices have been issued for mismatch and it is really a difficult for CPC task to match each and every entry of ITRs knowing well there is no tax liability from assesses side and no revenue to the Govt. Cases can be understood and details are required if LTCG in such cases exceeds 1 lakh. Simply the information can be asked as per Sec112A for reporting purpose as was being followed till FY 2107-18 under Sec 10 (38). Secretary, Revenue is nodal authority and should take up the case with CBDT for simplification of the procedure as it helps both sides. There is wastage of time, manpower and financial resources etc without any revenue. The same resources can be used for some innovative solution of prevailing situations and plugging the revenue leakages. It is well known that a small mistake may invite big problem and may be the first step towards harassment of tax payers. To avoid such situations and problems let us follow the simple solution of the problem. We can still workout better method to increase revenue by withdrawing LTCG tax i instead increase STT which is simpler way of collecting taxes. Whenever there is a transaction STT is calculated and deposited by the stock exchanges in Govt, accounts on settlement. Each and every transaction gives the revenue to the Govt. without involving tax payers and tax authorities. No complexity in filing ITRs and wastage of resources by the Govt. and still there is increase in revenue. These are simpler way of boosting the revenues and sentiments of the investors. This will make the tax payers life simpler specially salaried class, sr. citizens, pensioners who mostly files ITR1. The tax compliance is highest in this category and we should make their life simple not complex. Let us hope for good solution.
Naveen
Excellent move by GoI
John Joseph -Excellent move by GOI. Due has been given to bold and dynamic officer.
Sanjeev Kabbur