Tax Changes impact the common man both financially and from the compliance perspective. In these dynamic times, Tax changes are more frequent compared to the past. Moreover, it is important to overhaul the tax system as per current requirement. Another reason is to nail tax evaders who are smarter due to easy access of information. As i mentioned in my previous posts that less than 3% of India's population pay direct tax. As per my calculation, 110 mn individuals are still out of tax net. In order to bring these people in tax net, Income tax department has no other option but to follow these ... Read More