Implement Non-Adversarial Tax regime in true sense: AIAI

India Infoline News Service | Mumbai |

AIAI feels that the Government should do away with the regime of criminal and raid proceedings in every case in the taxation arena i.e. Income Tax, Excise, Customs Act and the Companies Act 2013

We welcome the Hon. President of India Pranab Mukherjees addressto the Parliament indicating the intention of the Government to have Non-adversarial Tax Regime i.e. a spirit of co-operation and mutually satisfying resolution to resolve the issues by simplifying the taxation system thusenabling ease of doing business. The move reflects clarity of the Government to boost investment, manufacturing, export and employment, said Vijay Kalantri, President,All India Association of Industries (AIAI).

AIAI feels that the Government should do away with the regime of criminal and raid proceedings in every case in the taxation arena i.e. Income Tax, Excise, Customs Act and the Companies Act 2013, which not only deters conduct of business but also de-motivates investors. Such system also does not exist in progressive countries.

AIAI strongly feels that the Government should do away with all provisions of Criminality, Raids andProsecution in every act/clause, which adversely impact the growthof business since the Governments intention is to collect revenue and not to prosecute the entrepreneur. Such acts should only be imposed on willful and habitual defaulter rather than making it a general practice.

AIAI also welcomes the Governments intention to bring down inflation, doing away with black marketing, corruption and setting up IITs and IIMs in every state which will not only develop skilled labor, but also boost our competitiveness, Kalantri said.
 

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