Only 6 crore people have got purchasing power on which our economy runs, out of which only 3 crores 30 lacs file Income-tax Returns, out of which lacs file returns who do not pay income-tax in view of number of deductions and rebates. At least 6 crore assessees in India should be brought in tax net and should have P. A. Number..........

The Government Of India had constituted a Committee of experts to examine the structure of Direct and Indirect Taxes on 29th August, 1986, under the Chairmanship of Dr. Raja J. Chelliah.........

Final Report of Tax Reform Committee headed by Dr. Raja J. Chelliah has been published in 197 I.T.R. p.177. The Committee has specifically recommended for computerization in taxation system with relevant extracts is reported in 197 I.T.R. p.281.........

Every income should be taxable and every assessee must contribute minimum or maximum towards the revenue receipts in order to increase the revenue receipt, wipe out the debt and reduce the interest payment liability. On above basis, the suggestions are made with regard to income mentioned in section 10 of the Income Tax Act..........

Public Trusts falling under sections 11 to 13 of the Income Tax Act have to file Income Tax Return and Trusts are exempted from payment of income tax on the trust income..........

A standard deduction restricted to 1/3 of the salary or Rs.30,000, whichever is less for tax payers with gross salary below Rs.1,50,000..........

Rules of Capital Gains - car, Housing Interest Loan & Expenses etc.........

Section 80L Deductions in Respect of INTEREST ON CERTAIN SECURITIES.........

Section 88 of Income tax Act allows rebate in payment of income tax on certain payments of the Insurance premia, contribution to provident funds and other mentioned payments to an individual and H.U.F..........

88-B Rebate of Income Tax in case of Individual of sixty five years of age.........

Rebate of Income -Tax in case of Women Below Sixty Five Years. To encourage women to become financially independent. It is proposed to insert a new section namely, section 88C in Income-tax Act. .........

Dr. Raja J. Chelliah, Tax Reform Committee had submitted its final Report, which is reported in 197 I.T.R. p.176 and the Committee had recommended to continue the Gift-Tax.........

There are 13 crores assessees in populations of 24 crores in U.S.A. in India, we have got about 2 crores 30 lacs assessees in population of 100 crores. Out of 2 crores 30 lacs assessees number of Public Trusts file their Income-tax Return.........

There are about 3 crore 30 lacs assessees who were given P.A. Numbers. Exact number may vary as allotting P.A. number is a continuous process. There are about 6 crore eligible tax payers which can come within the tax net, if deductions under Section 80L and rebate under Sections 88, 88B, 88C are deleted..........

Part IV and Part V of Income Tax Act - 1976.........

Kelkar Committee has done an excellent job by recommending deletion of standard deduction, deductions and rebates under sections 88B and 88C of Income Tax Act. The Committee should have given figures of economic condition of the nation and should have given figures of interest payment of liabilities which has increased from Rs.19,664 crores in year 1990-91 to Rs.1,25,000 crores in year 2003-2004 (estimated)..........

Reasons show why people do not pay taxes- Government Waste, Pension scheme on payments of income tax, Every Assessee should be treated equally, Refund of tax, wasteful expenses etc.........

The Hon'ble Finance Minister Shri Jashwant Singh presented budget 2003-2004 in Lok-Sabha. It was announced that only administrative changes will be made during the year and recommendations made by Kelkar Committee on direct taxes were not implemented..........

U.S.A. had large debts in 1995 and Mr. Clinton, President of U.S.A., planned to reduce the debts by introducing Seven Years Plan from 1995-2002..........