Rationalise taxes

WISH LIST

In any case, taxes like Fringe Benefit tax (FBT) and bank withdrawals tax have been major irritants to the citizens, without corresponding large tax collections for the exchequer. Retaining every year, an ill-conceived and badly drafted FBT is causing a lot of hear-burn. FBT will go down as the most hated tax, ever levied on Indian tax payers, not for the quantum of its imposition, but for its illogical basis and rationale.

Finally, tax administration needs to be made tax-payer friendly. Tax officials should treat tax-payers as welcome customers rather than as helpless victims to be exploited and threatened as in a police station.  The writer is a chartered accountant