I'll be back soon with my first post. Stay tuned

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I'll be back soon with my first post........
Stay tuned!!!!!

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Doubling of Farmers' Income

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Formalization of rural & semi urban economy While cash transactions have now been done away with in most cases, it is still allowed for payment to farmers for their agro-produce. When payment to farmers for almost all the Govt schemes, subsidies etc is done to bank account directly (DBT), why this practice of payment for farm produce by cash? Well, I may not have proper understanding of perishable agro-produce market, where there may be some compulsion/conditions which might necessitate the payment by cash. But, at least in case of non-perishable agro-produce, there is not a single valid reason for necessary cash payment. Well here is a brief about what am I suggesting: Existing provision in the Income Tax Act u/s 40A (3): any expenditure in cash above Rs.10,000/- is not allowed as expenditure. So to that extent, taxable income of the business increases. Impact of this provision is that, no business normally makes any payment above Rs.10,000/- in cash. But there are ...
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A simple thing in terms of improving business environment in India could be to stop officers from asking for the same documents again and again from citizens under different names like scrutiny, survey etc by same Government Dept.  Let me give a couple of examples to explain my point:  1. An ITO asks for submitting Audit report of a certain Assessment Year in the scrutiny when the same has been already available with the IT Dept. (as it has already been submitted). 2. An ITO asks for a co py of IT Challan paid to issue refund of a previous year whereas the payment of same is already reflected in Form 26AS. Here what the ITO is doing is harassing the poor Income Tax payer under different names, asking him to visit IT office again and again under the guise of scrutiny or something else. This not only increases cost of the Govt but also of the Income Tax payer of compliance. This is applicable to all the Government Departments. A simple suggestion of stopping these officers fro...
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