Photo: MintI have been a firm believer that every budget does not need to be a time for tax reforms. Yet, this is an area where the budget perhaps fails, since there are almost no attempts to create seismic shifts in the way the tax administration and collection systems work. It is also perhaps the large number of effectively nil filers that create a propensity to unfairly go after the high tax filers. Let us not wait for another budget to address these issues, and the new law being drafted should certainly grab this window of opportunity. This new tax was widely anticipated, and a somewhat overheated stock market was the best time to levy the tax.

Source: Mint February 01, 2018 23:48 UTC