Arun Jaitley discussed with Punjab tax Practitioners Association pre-budget representations & suggestions

Ludhiana, December 6, 2016: Arun Jaitley, Union Finance Minister discussed with Punjab tax Practitioners Association (PTPA) pre-budget representations & suggestions in a meeting with its Office Bearers & Executive members yesterday. He answered that Finance Ministry will duly consider the suggestions being in tax payers & nation`s interest.
The deputation of PTPA comprised Anil Sareen, Vice President, BJP (Punjab) & Vice Chairman PTPA, Ashok Kumar Juneja, President & B.R. Kaushal, Secretary General (PTPA) & all key office bearers & executive members (PTPA) from Amritsar, Jalandhar, Ludhiana, Moga, Patiala & all other major cities of Punjab.
PTPA suggested Mr. Jaitley to reduce Income Tax Rate from 30% to 25%, Since the prevailing taxes are higher as compared to other progressive countries of the world. It will reduce TAX EVASION and it will enhance Income Tax Collection. Lowering the rates will always increase the tax revenue and also increase in the Taxpayer`s base. As more and more assesses will be added, the direct tax collection will also increase.
Tarlok Bhalla, Secretary & Rupinder Kansal, General Secretary (PTPA) said that limits prescribed under various provisions of the act needs to be enhanced keeping in view cost inflation which is as under (CII) : -
Asst year 1985-86 2017-18
CII 125 1125
Chief Commissioner of Income Tax, Ludhiana having jurisdictions of Ludhiana, Moga, Sangroor, Patiala, Jagraon, Malerkotla, Nabha, Rajpura, Fatehgarh Sahib (Mandi Gobindgarh), Khanna, Phagwara, Jalandhar, Kapurthala, Hoshiarpur, Nakodar, Nawa Sheher, Dasuya and Barnala. Five Commissioner of Income Tax (Appeal) are posted for hearing of appeals alone at Ludhiana and no office of Income Tax Appellate Tribunal Bench at Ludhiana. It is requested to constitute Income Tax Appellate Tribunal Bench at Ludhiana and all the Vacant posts of our region be filled up for fast & speedy disposal of cases & work be filled up without delay.
Mr. Bal Krishan Gupta, Chairman VAT Board (PTPA) & Sandee Goel, Advocate highlighted the provisions where GST draft model require amendment. They said Income Tax practitioners should also be allowed to appear under goods & Service Tax Act & rules on the pattern if VAT, CST & Income Tax Acts.
Amrik Malhotra, Vipin Jindal, Bathinda & others who attended the meeting & expressed their views.