Tax department reopening old tax assessments based on algorithm

paisa chahiye fakir ko by hook or by crook …. 🤘

yes TIS is collating all the info. Matter of time and 2 consultants to unravel things.

But my strong feeling the income bars have to be changed from 2.5l to 5l before they do all this. Imagine plight of senior citizens orhers who live only on interest income.

but our bua (nsr) is just another sheep in the herd.

@bohemian paji in short article means that they can open 11 years old cases also?

since GST topic is on, now they want to  consolidate GST slabs by removing 1 and 5. So we will be left with 12, 18 & 28. 

reason:- compensate the loss by state govts. 

we should have strong opponents otherwise it will be like this.

Suppose, i am about to purchase a product.

Total cost to manufacture it = 100 (say)

Margin added by company = 25 (25%)

Average GST rate is 18%, so total MRP of the product is Rs. 147.5

Assuming that i am in a 30% slab, i need to earn Around Rs. 215 to purchase that product.

I am not against the government. I am against the tax policy and the people behind tax evasions. They avoid taxes and burden will be transferred to the tax payer with higher rates.

Even though i am paying higher taxes, i am not receiving any social benefit when in need.

Ambulance didn’t reach in time and i lost my loved ones due to pathetic roads laid by corrupted officials and contractors.

Tax is like a subscription paid to the government. There are corrupted people everywhere on the planet but at least outside india, people receive social benefits for the taxes they have paid.

Sometimes, i admire THANOS and EREN YEAGER or i dream to get nominated for the MARS MISSION and get the **** out of this planet.

IT Department always sends notices for 3-4 years old assessments.