Whispers Forum — 2 May 2019
DEBATE (1)
Lateral entry is good. It will encourage real talent in the country.
R Menon
Attention CBDT!
A regressive step ITR1 and ITR4 forms have been uploaded for AY 2019-20. ITR 1 has been modified excluding to show exempt income under section 10(38) as the same has been replaced with 112 A. But to surprise section 112A has not been included in pull down menu under exempt income in schedule EI. ITR1 is generally filled by salaried class and pensioners where the compliance is maximum. Now making the life more difficult for these categories who are using ITR1. This is really a regressive step by CBDT and ITR1 should be modified to the extent to include section 112A for LTCG arising on transfer of equity shares or equity oriented MF upto 1 lakh. CBDT should in fact work for increasing not only ITR filers but also to increase the tax revenue from other categories. There is no methodology to assess the income of professions, traders, businessman etc. Incase traders deals only in cash transactions, it is rather difficult to find out the real income. Similarly professionals taking major part in cash, difficult to find out. But Govt. has nothing in hand to find such income as their non-filer monitoring systems works on transactions visible in financial system. CBDT should work for innovative approach using present day technology to assess the real income of such categories where compliance is low and modify the corresponding ITRs instead of fiddling with ITR1. Let SAHAJ be sahaj/simple and restore section 112A to report the exempt income instead of forcing the poor assessees to file ITR2 of 22 pages. Let it be progressive step.
Naveen
Who makes the Prime Minister ?
Do the voters make the Prime Minister of India or the King Makers? Democracy gets compromised when people’s mandate is stolen by the so-called king makers. It heralds revival of monarchy, feudalism, dynasticism, plutocracy and kleptocracy. The cash seized by the ECI during the current run up to the Lok Sabha election is shocking. Still politicians have the gumption to speak the jargon of socialism and social justice?
M L Gupta
Lateral entry is good. It will encourage real talent in the country.
R Menon
Attention CBDT!
A regressive step ITR1 and ITR4 forms have been uploaded for AY 2019-20. ITR 1 has been modified excluding to show exempt income under section 10(38) as the same has been replaced with 112 A. But to surprise section 112A has not been included in pull down menu under exempt income in schedule EI. ITR1 is generally filled by salaried class and pensioners where the compliance is maximum. Now making the life more difficult for these categories who are using ITR1. This is really a regressive step by CBDT and ITR1 should be modified to the extent to include section 112A for LTCG arising on transfer of equity shares or equity oriented MF upto 1 lakh. CBDT should in fact work for increasing not only ITR filers but also to increase the tax revenue from other categories. There is no methodology to assess the income of professions, traders, businessman etc. Incase traders deals only in cash transactions, it is rather difficult to find out the real income. Similarly professionals taking major part in cash, difficult to find out. But Govt. has nothing in hand to find such income as their non-filer monitoring systems works on transactions visible in financial system. CBDT should work for innovative approach using present day technology to assess the real income of such categories where compliance is low and modify the corresponding ITRs instead of fiddling with ITR1. Let SAHAJ be sahaj/simple and restore section 112A to report the exempt income instead of forcing the poor assessees to file ITR2 of 22 pages. Let it be progressive step.
Naveen
Who makes the Prime Minister ?
Do the voters make the Prime Minister of India or the King Makers? Democracy gets compromised when people’s mandate is stolen by the so-called king makers. It heralds revival of monarchy, feudalism, dynasticism, plutocracy and kleptocracy. The cash seized by the ECI during the current run up to the Lok Sabha election is shocking. Still politicians have the gumption to speak the jargon of socialism and social justice?
M L Gupta
