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The Finance Minister has hinted at a reduction in tax rates. Not only should tax-rates be reduced they should also be simplified . Tax-deducted-at-source (TDS), itself a provisional tax, should not have any additive. Also, there should be common rates of tax-deduction, say 10 per cent, except on payments made to contractors and on unexpected huge earnings. The system to file annual TDS returns should be brought back and a last date fixed. It is unfair that small businessmen have to spend so much time and energy on filing quarterly TDS returns, while the government gets its revenue from TDS every month.

Last dates of filing IT returns could be advanced to June 30 and September 30, respectively.

Madhu Agrawal

Delhi

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

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