SOME DIRECT TAX ARTICLESHIP INTERVIEW QUESTIONS HELP URGENT

Hi Mohit,

     I wish to answer the above questions, hope you find them impressive, what I feel is that you give answers in such a way that there is no scope for argument, cause unless and untill we do articleship we dont have any practicle knowledge, and above all questions demand practicle answers.

1) The various sections or chapters in IT are made in such a way that there is no loop hole in any of them, and if you come accros any loop hole, it is covered by another section.

2)Tax planning concept of IT is quiet appreciable, in the sense that if an indvidual wants to save his tax he can save by subscribing for infrastructure bonds(give recent examples), and also people are becoming more aware of tax planning and tax saving. It is understood in plain and simple language.

3)Yes if Income Tax Act is to be abolished then one won't mind embracing Direct Tax Code if it proves to be a boon for the country. Always hope for the best :-)

4) Income Tax is altogether a different part, it is paid on income which individual creates for himself, and Indirect tax like VAT, sales tax etc, is the one which he has to pay whether he creates it or not, so its defenitley not a burden, burden is a regressive word.

5)Lot many experts have put a lot of thought and decided the tax sturcture which suites the best for India, now whether is it good or bad in comparison with other countries is rather a praticle question, if you give me an opprtunity to decide that by allowing me to learn from you then it would be a blessing for me :-)