Centre Aims to Broaden Tax Net: Seelam

Centre Aims to Broaden Tax Net: Seelam

Hyderabad, Sept 11 (INN): The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) organized an interactive meeting of Trade and Industry delegates with Union Minister of State for Finance (Revenue) JD Seelam at Federation House here on Wednesday.

Addressing the gathering, Seelam said, “We are not in ordinary phase of economic situation. Our focus now is to make tax collection a pleasant job and to promote voluntary compliance. Customs and Excise departments and Income Tax department should no more be regulatory bodies but they should act as facilitators for the industry”

Seelam has requested the people from industries to assist the Government of India in the process of development. “We need to bear in programmes and social sector schemes leading to raise the living standards there by creating a cohesive society. The government is bringing so many reforms and the reforms must go on,” he said.

A rough estimate of the country shows that 14 crore people have taken PAN card but only 3.5 crore of them pay tax. “We need to broaden the tax base by bringing another 2-3 crore people to the tax net however small that amount may be. Adding 2-3 thousand rupees per person per year will ease the tax burden from the existing tax payers by evenly distributing on more number of people,” he said.

Suresh Jandhyala, Chief Commissioner of Income Tax-I, BB Prasad, Chief Commissioner, Customs, Central Excise & Service Tax, Hyderabad Zone, Srinivas Ayyadevara, President, FAPCCI, Shiv Kumar Rungta, Senior Vice President, FAPCCI, and others also present in the meeting.

FAPCCI is working closely with the commissionerates of Customs, Central Excise and Service Tax and Commissionerates of Income Tax to promote and educate the industrialists and traders about the several initiatives taken by the government. FAPCCI has conducted such awareness programmes and interactive sessions at various places in Andhra Pradesh.

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