income tax india

income tax india What expertise does Anna Hazare or Baba Ramdev have in black money? Do they have any knowledge of international law?" These tough words were from none other than governor H R Bhardwaj. Criticizing civil society members for their recent protests against black money, Bhardwaj said: "What we need is efficient tax administration and correction of foreign exchange laws. If the laws are good, such issues won't arise."


The governor was speaking on the sidelines of a function to mark 150 years of income tax in India. Despite the era of e-returns, a lot remains to be done. People are dissatisfied with the use of resources. Cases of black money in Swiss banks are because of bad statutes and bad laws. People can adopt shortcuts easily there. Many corporates are running empires abroad. Too much of centralization and unplanned expansion of cities are leading to less growth outside cities. I had proposed a national court for tax but it failed to take off. A relaxable tax regime and the concept of token tax can be helpful," he said.

income tax india