The concept of Expenditure Tax instead of Income Tax will be useful in the sense that a person should be charged for the expenditure he is able to make and not from one's income which if saved in Bank is already under tax bracket. A person capable of spending more should be taxed more.
The law is still a work in progress, and the process of evolution cannot be removed in such a complex trip. In the future, the government should continue to take steps to fulfil its promise of a "Good & Simple Tax."
You can submit Form 15G/Form 15H even if your gross interest income exceeds your apparent tax-exempt slab, provided
Many banks interpret the term ‘total income’ concerning declaration in 15G/H, as any non-professional would and not as expected of them under the IT Act and due to lack of proper understanding, many times reject an otherwise in order Form 15G or 15H.
The political right wishes people to be independent so that people can develop their own ambitions. The very idea that government can involve in everything to develop the country is actually a false narration.
The Pakoda stall concept of mini business model example given by the PM, to boost self employment through small and mini enterprises becomes very relevant and meaningful than NYAY which seeks to tackle poverty through legislation.
With the implementation of Goods and Services Tax (GST), FMCG brands successfully navigated their way to record a higher demand-led growth.
This is what a common man wants along with a sound budget for India's betterment.