Make IT(Income-tax) less taxing

http://wap.business-standard.com/article/opinion/letters-end-tax-exemptions-117022801290_1.html

Make IT(Income-tax) less taxing
This refers to S Kumar’s response (Business Standard, Letters, March 1) to the piece “Data crunching: Are we a nation of tax evaders?”
The ideas brought out in the letter and in Ishan Bakshi’s article referred to therein need to be examined and considered for follow up by policy makers. The rich and the powerful get exemptions factored in, in Budget proposals. There's no logic or rationale in continuing the exclusion of agricultural income for tax purposes, the way in which it is done today. The beneficiaries of huge tax waivers/exemptions in budgets are not made to share their benefits with the society when they prosper.
With the launch of GST, there will be an across the board rationalization in the taxation procedures outside the Income-tax(IT) net. Time is opportune to think of modalities to make IT less taxing for the taxpayers. The present legislative set up and procedures gives an impression that ‘Income-tax is a punishment for earning more and one should not mind spending a fortune to ‘avoid payment of Income-tax’. The package of tax concessions and the procedures followed by the Income Tax department to collect taxes make one think on these lines.
Why not make the employer pay ‘employment tax’ after making necessary adjustments in the compensation packages? In the alternative, at this stage of development in technology, it should be possible to have dedicated bank accounts for salary payments and receipts including  ‘other income’ forming part of taxable income. The only negative impact would be rendering some staff  jobless in some departments and organizations including CA firms.

M G Warrier, Mumbai

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