Instead of simplifying the traditional tax structures, the GOI is imposing new taxes. Service tax was started with 1% with few services and now it is 10% in almost all services. Abolition of income tax is not feasible unless alternative sources of making up revenue deficit,are created. There are more income tax evaders than avoiders. The govt. will be well advised to demonetize 1000 rupee notes.But,this will adversely impact all political parties and builders mafia across the board. They will have to ferry the cash in trucks. This way, transparency will prevail.
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