Finance Ministry is finding ways of widening the taxation net. Finance Minister P Chidambaram had already hinted that the government will explore more ways of increasing tax collection effort. In a circular recently issued the Government has asked all those employees who draw more than one lakh rupees as annual House Rent Allowance to furnish the PAN and other details of the landlords whose accommodation they have rented. Landlords cannot refuse to give their PAN number and details of their property. The purpose of the Government is twofold. One is to put a stop to fake house rent claims and the second is to get those property holders into taxation net who avoid paying taxes. We think this is a reasonable step of the Government. Nobody should have any grouse against it because concealing income or making fake claims is a crime. At the same time it is unjust that an honest employee even when financially placed at moderate level pays the tax while his colleague who is in a better position manages to evade taxes and thus increase his financial strength. We need to learn to be honest. In future more stringent laws will be passed that will leave very little rather no scope for tax evasion. This law should be; promulgated in the State as well to ensure that we do not encourage tax evaders.
Trending Now
E-Paper
Follow our WhatsApp channel