ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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NEW DELHI-No Taxes, No Evasion

NEW DELHI No Taxes, No Evasion! EXPECTATIONS or fears aroused by the Finance Minister's promise to bring forward a separate Taxation Amendment Bill to give effect to the recommendations of the Direct Taxes Enquiry Committee, which he described as "valuable and far-reaching", have been very much subdued after the report of the Committee was made public early this week. Some had expected that the Committee on black money, as it was popularly referred to, would come up with something very radical to unearth black money and end its proliferation and the operation of a parallel economy on its basis. Some others had feared that the Finance Minister had let off direct tax-payers lightly in his budget because he was going to have another go at them when implementing the Wanchoo Committee report. In the event, neither of these possibilities appear very real in the light of the recommendations of the report After all, what the report does is mainly to suggest some more measures for strengthening and streamlining the tax administration and the machinery of tax collection and to plug some of the more obvious loopholes which help tax evasion or avoidance. Some of these suggestions are certainly useful and valuable. But it needs to be remembered that efforts in this direction have been going on for long

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