My Dream budget 2009.

Sir,

I would like to submit my budjet wishlist to the Finanace Minister

 

1. SCRUTINY OF ACCOUNTS OF THE ASSESSEE

  

                It may be made mandatory that the accounts of the assessee be scrutinised once in five years. There are numerous cases which escaped from scrutiny assessment over the years causing huge revenue loss for the country.

 

2. INCOME TAX SURVEY

 

               The Income Tax Department may be empowered to conduct proper income tax survey so as to identify the persons violating the income tax provisions particularly those who are not filing the returns wilfully.

 

3. PROPER IMPLEMENTATION OF WEALTH TAX PROVISIONS

 

               There is ample scope for increasing the revenue collection by implementing the wealth tax provisions effectively. There may be numerous high networth individuals who fail to file the wealth tax returns for several years. So tax department may  take necessary steps so as to increase the number of wealth tax assesses resulting in more revenue.

 

4.INCENTIVES TO TAX CONSULTANTS

 

                Finance Ministry have to consider  to provide incentives to the tax consultants /practisioners who are assisting the government for the revenue collection. Such incentives may be granted on the basis of tax remittance at the instance of the consultants/practisioners.

 

                           Please publish the proposals of my dream budget in your esteemed daily "Business Line"

 

Thanking You,

Yours faithfully,

 

 

P.D. EMMANUVAL

CHARTERED ACCOUNTANT

SUPER BAZAR

BANK ROAD

KANNUR,

KERALA

670 001