JPM - Creative Chaos - Fun, Fast and Furious
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Indian Reforms - Act 3

The simplification of the Indian Tax Laws - IMHO - is one of the best things I've heard this year. Not just for me... I'm NRI... (i'm least bothered) but for the common man. Given that I've worked in Tax Consultancy... and understand a wee bit about this... I'm glad to see this proposal be put forward.

We need it - desperately. The common man should not be at the mercy of a tax consultant to help his country (by paying taxes).

But having said that... I also fret.. why the hell do we pay taxes? So the government can spend it in the least efficient way! By building statues across India (instead of pumping money into education, healthcare and infrastructure - how about fixing a few roads?)

Has anyone in the government considered the output for each rupee invested? People say you can't run a country like a business... but that's exactly what the Indian government is doing... charging high premium for mediocre (more like below par) services... running India like a bankrupt business.

We need a miracle.

Amen.

Filed under  //   imho   india   politics   tax  

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This is why India will NEVER become a superpower!

On 20 July, ‘The Wall Street Journal’, which has a content sharing partnership with ‘Mint’, revealed that the US Internal Revenue Service (IRS) had stepped up scrutiny of offshore accounts and foreign income. The newspaper expects this scrutiny to cover several tens of thousands of taxpayers.

This is in addition to moves made by the US government to pressure Swiss bank UBS AG to release the names of 52,000 American account holders in order to catch tax evaders.

Compare this with India’s moves to catch tax evaders. Telgi’s diverted funds from the stamp paper scam remain unearthed. Hasan Ali’s assets remain unattached. And there is no sign of any pressure being applied on Swiss banks and tax havens with secrecy laws to reveal names of Indian investors.

Pick on the small man... go for it India!

Filed under  //   economy   india   politics   tax  

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