Tax Terrorism assumes frightening proportions

Unlimited Powers to Tax Inspectors

The Finance Bill surreptitiously sneaked in provisions that gave unlimited powers to tax inspectors to search individuals/ business entities, assigning no reasons thereof.

Tax terrorism:

Tax officials can now conduct a raid and harass honest taxpayers without giving any reason (even to the court) — the amendment in tax laws is retrospective going back to the year 1962.

Retrospective Taxation

The PM constantly attacked UPA on ‘Retrospective Taxation’, by quoting ‘Vodafone’. 3 years after assuming power, ‘Retrospective Taxation’ continues. Govt has now added ‘Cairn’ to the list, along with Vodafone.

So, ‘Tax Terrorism’ flourishes!