sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Don't know if you have to file income tax returns? Check this out
 When a Foreign Company is Said to be Resident in India – IT Notification No.29
 Instructions for filling out Form ITR-7
 Do not miss including these 5 incomes while filing your income tax returns
 Who can use ITR1 form to file tax return?
 Who can use ITR1 form to file tax return?
 Central Goods & Services Tax (Seventh Amendment) Rules 2018
 Filing your income tax returns? You need to know which form to submit
 Income tax return filing for FY 2017-18: Here are all the links you need
 Filing your income tax returns? Here are 4 challenges that you may face
 7th Pay Commission and Income Tax efiling: Here is how government employees need to file ITR for AY2018-19

Simple, transparent tax system needed
March, 12th 2016

N.R. Narayana Murthy, Founder and Chairman Emeritus of Infosys, said here on Saturday that reducing friction for business and creating an easy-to-comply-with tax system can help shore up the Human Development Index (HDI) of the country. He also called for jailing people who do not pay tax as it is used to create infrastructure and facilities for the poor.

In an interaction with students of the National Institute of Engineering (NIE), Mr. Narayana Murthy said that making it easier to do business and reducing friction will facilitate faster growth of businesses and encourage both domestic and foreign investors to invest in entrepreneurs in India, leading to creation of more jobs and better income.

In this context he underlined the importance of creating a transparent and stable tax system which will go after tax collection in a very rigorous way and punish people who do not pay their tax. Citing a 1980s case of Leona Hemsley of the U.S. who was jailed for tax evasion, Mr. Murthy quipped “perhaps she ignored paying tax imagining she was a very big person like our friend Vijay Mallya.” If the tax laws are easy to comply with and the evaders are punished, there will be no problem of taxes, said Mr. Murthy in the context of reports that the amount of tax under contention in India was huge.

“Use part of the tax collected to build infrastructure to pave way for growth of businesses and invest in providing basic education, health, nutrition and shelter for the poor through an efficient, honest and transparent public governance system.”

Allaying fears on automation resulting in loss of jobs and creating social crisis, he said such an argument and logic was also used to oppose computerisation of banks in England and the arguments continued in India till 1989 that people would be thrown out of jobs. “Automation will not take away jobs but will create opportunity for human beings to get better and better quality of jobs provided there was constant training and people are prepared to work hard and learn new things,” he added.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions