Earlier, Pan Card was made compulsory in Share investment, then to Bank deposit and finally in Mutual fund. Now Government has to do one thing. Now what will happen, mutual fund investors will divert to Life Insurance's ULIP. Pan Card rule has to be extended to ULIP also.
the PAN card has become a millstone in the neck of honest tax payers, and the salaried class. Chidambaram, with his know-all attitude (he is clearly an idiot if he thinks he can get away with taxing at multiple points) thinks he is a great finance expert. one example. we pay service tax on a host of services with the money LEFT OUT AFTER WE HAVE PAID OUR INCOME TAX. is this not multiple taxation? how can you tax the already taxed income several times over. and what is happenening to the money that is collected. it is wasted in distribution of Colour TVs free, free lands, free tickets to MPs MLAs, free dinners, free lunches, and just squandering. why cant this "EXCELLENT" FINANCE minister chidambaram plug all this and bring a regime of strict financial controls while making honest tax payers happy???
Dear All, I must tell you that it%u2019s the Politicians who are eating our hardly earned money paid as tax. They get so many %u201CBhatta%u2019s%u201D Travel coupons etc. and nobody ask them. No IT for that. Does anybody ask %u201CKumari%u201D (could you believe) Mayawati that how she has grown her assets with rate of 400 % in one year?? Next---- Why there is no tax on agriculture ??? Now celebrities have starting buying agriculture land to hide their money. Everybody cries when a farmer subsides in Vidharbha with loan and Govt pays a huge amount from our money( Tax) to them to get the credit ( Vote bank). What about a professional executive who suicide with same reason i.e. Loan--- No sympathy. Just a sentence that he was in %u201CDepression%u201D This is double standard policy. What we are getting in returns of our tax ?? And now we are planning to post %u201CHonorable ( everybody know how deep she is involved in Corruption) Mrs. Patil for the post of President. This all leads to dissatisfaction in the society turning youngs to terrorist or leaving the country) brain drain. Mera Bharat Mahaan %u2013100 main se 99 (100) Baimaan. Jai hind
FM , Chidambarm is intersted in benfit of big and balck money landers. Because they provide fund for election. No comman man send money to FM. SO, WHY HE WILL NOT SUPPORT THEIR FUNDER
White starched lungi clad, Harvard Educated and Thirukkural reciting P.Chidambaram and the Finance Secretary Parthasarathy Som have created havoc in the lives of honest tax paying middle class of India. Ovbiously, they do not have the guts to verify the assets of Pratibha Patil, Lalu Yadav, Jaylalitha, Mayavati etc. But their hencemen (tax officers) have sufficient powers to harass the middle class. Rich can buy their way off. Powerful cannot be touched. Poor anyway do not give a damn. Those who do not know FBT (Fringe Benefit Tax) is reportedly the brainchild of Parthasarathy Som trying to copy Australian tax system. I shall vote for Mrs.Sonia Gandhi lifelong if she just replaces these two men with some "less intellectual" personnel who will be incapable of drafting a complicated tax return form.
RE:PAN CARD & PREDATORY STATE
by shailesh kumar on Jul 10, 2007 12:56 PM Permalink
100% right, if he is also team member of these so called NETA of India.
RE:PAN CARD & PREDATORY STATE
by Sameer Bhagwat on Jul 10, 2007 12:59 PM Permalink
Kaliyug this is sir kaliyug. The world is ful of dirt and God is comes shortly to cleaning procedure. Beware every body.Timing is out.
I think our FM is having good intention in insisting that MF investors produce pan card. But I also think that while investing, if PAN is not available, still Units shd be issued and on realisation, PAN shd be produced alongwith last three years return copy, duty attested by an Auditor. This means fund flow will not stop, economy will grow and overall national building will continue to prosper. AS for the investor, if it is black money, anyway he cannot claim it and even if claimed without PAN and Tax returns, he will have to pay 100% tax, 100% penalty and fine which means he will get zero on hand. Prosecution is the last otion of department but how many people they will put in jail. ATleast money will come out and goes to exchequer. otherwise, the said black will be invested in some other illegal instruments and get multiplied without any benefit to nation.
RE:PAN - solution
by Out0f BOX on Jul 10, 2007 12:58 PM Permalink
PAN card showing has become so cumbersome and you suggest attested copies of returns ? Sillier !! You must be a CA ??
