When the new Finance Minster takes oath, I started thinking my expectations which are not fulfilled since long. These expectations are not require any provision in the budget, any allocation increase, any allotment in Five Year Plan. However, will require commitment, devotion, innovative ideas, and a right approach to fulfill the same.
These expectations are listed as under:
HASSELE FREE REFUND OF THE TAXED PAID AND/OR DEDUCTED:
In spite of computerization, the refunds are either not processed, processed delayed, processed with errors.
We know, there were plans to set up Central Processing Zones for processing of returns at Bengaluru, Mumbai, Kolkata and Chennai, However, there is only one such processing centre at Bengaluru and all the returns all locations in India are processed there. This results in either delayed processing, or faulty processing.
If your return is processed and processed correctly and you receive the correct refund along with interest you are the luckiest man on the earth, you fill like receiving Five Crore in Kaun Banega Karodpati Five. In case, refund is short and credit is not given for either the taxes paid, or TDS your nightmare begins here. You have option to file Rectification U/S 154 online for the non credit entries, and if the order of U/S154 done correctly and balance refund is received you are still luck like winning of daily lottery. If it is not so your refund is under the dark clouds never certain when rained.
In case of manual refunds and or ratifications, you face bigger nigh mere by both hands manual as well as systems run by the manuals. They are behaving very fancy and like they are giving us either subsidy, or allocation from the budgets. They openly tell you that you have to come at least ten times to see movement of your paper, it may take more than a year to walk your paper like child. We find two consistent and believable reasons given by them for not processing the rectification either system not working or person is absent. You fill yourself in heaven when both of them are there. The reasons of all such delays are best known to all of us since generations.
Rectifications filed manually, will never awake themselves for years. You have to be consistent to keep them alive and moving. If you forget, the same will die by self without any dying declaration.
I believe that the refund of taxes is my money which the Govt. is using and I have right to get them back without any hassle and any extra payment.
AT LEST PLEASE ENSURE THAT WE GET OUT MONEY BACK IN TIME, CORRECTLY, ALONGWITH DUE INTEREST AND WITHOUT AN EXTRA COST.
NOTIFICATION OF ALL APPLICABLE FORMS ON THE FIRST DAY OF THE FINANCIAL YEAR.
Today, it is 27th May,2014 and till today the applicable forms are not notified, that is From No 2, 4 and so on for filing of the Income Tax Returns for the Assessment Year 2014-15. If the Govt. believes that, the taxes should be more on compliance basis then if somebody wish to file their return on 1st of April should able to do so, without any waiting for notification of the return forms. If the same forms be notified and applicable for five years or so it will help in more compliance and easiness in filing the same.
Please, also not introduced any color forms. The From No.2 ITR in red color and the dept was not accepting the same in normal black color. Your forms may be of Eastmancolur but accept the same in any colour they received.
BELIEVE THAT IT IS THE AMOUNT THAT MATTERS THAN FORMS AND THEIR COLOURS.
DETERMINATION OF NUMBER OF HEARINGS FOR THE ASSEMENTS:
Presently, the hearings given for completion of the assessments are at the desecration of the officer according to their workload and other constraints. If possible, the number of hearings should be based on the collection of the taxes from the assessments. In such a case where the tax involvement is less the cases can be finished in two to three hearings.
ANY LOSS OF TIME FROM BOTH THE SIDE IS LOSS TO THE NATION.
FIXATION OF ACCOUNTABLITY:
It was observed that, there are hefty additions in the primary assessments which were subsequently either reduced or not find a place at all in appeal, however other than the error on the part of judgment or on record, no accountability was fixed for such additions. As the assessed is punished for wrongdoings intentionally or unintentionally there should be some accountability on the part of other side also.
ACCONTABLITY OF ALL THE ACTIONS RIGHT AND/OR WRONG, INTENTIONAL OR NON INTENTIONAL, ERRORS OR OMMISIONS IS THE NESSISITY OF THE CHANGING TIME.
CONCLUSION:
SIMPLE THINGS NOT ALWAYS TO POSSIBLE BY SIMPLE MEANS.
CA.Satish C.Badve
B.Com.F.C.A.D.C.M.D.I.S.A.(ICA)
CAclubindia
