3 A couple. No discrimination or classification of living. Accounts for extra of revenue (tax computation purpose) ought to independently drawn up. Source and place of earning not important for tax employs.
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3 A 21. All Government executives should declare their family assets as on 31st December each. A separate authority should be created to check these statements on random basis. The phrase family incorporate assets owned as an individual, as member of HUF, Assets controlled as trustees and assets of dependent people etc.
India needs a very easy legal system, which could be understood and complied by all involved. The revenue collection laws can be consolidated and written inside one hundred pages rather than over fifty thousands pages in present law, making use of the following rules.
3 A 7. Income and expenses to utilized in computation on cash basis & not on accrual purpose. This will reduce accounting manipulations and errors. No deductions be allowed against the income. Only business income will be allowed deduction of expenses incurred for carrying the business activity.
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