Government Becomes a Laughing Stock! Even though the government has extended the due date for individual taxpayers to file an income tax return (ITR) till December 31, it is imposing a 1% interest for each month of delay beyond the original July 31 deadline.
The Goods and Services Tax (GST) collections were badly hit due to the COVID-19 pandemic. So far the government has in this financial year achieved
Whether against Vodafone or Cairn, the cost in terms of time and spoiled investment ambiance for the nation is much above any rewards to the exchequer. The government’s intention of imposing the sovereign right to tax will create tremendous confusion or misperception and adversely affect the investment atmosphere. For a nation famished of private investment in infrastructure, this is self-defeating policymaking. The NDA government would have scrapped the remorseful provisions of the Income-tax in its first Budget itself.
