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A tax advisory cell and tax compliance scheme need to be formulated for entrepreneurial fresh ventures: ITAT

September 12, 2019[2019] 109 153 (Chandigarh - Trib.)

INCOME TAX: Tax Advisory Cell be created in order to nurture the successful ventures of semi-skilled first time untrained entrepreneurs from a below the tax-free threshold to incomes above this level. These upward movements in incomes are first noticed by the Tax Administrator (Assessing Officer) where deposits in bank accounts or other visible markers of financial success qua a new player in the market are first noticed in the system. It is only these entrepreneurial fresh ventures appropriately nurtured within the framework of the taxation system which can be the agent of economic change of the nation. Their value to the nation's economy cannot be over-emphasized. A mechanism to guide these brand new assessees through the tax and the bureaucratic maze must be made available by the State. The successful ventures when started should not be allowed to fail at the altar of compliances as failures of such ventures though at a personal level is only an individual loss but these small drops of failures trickling results in a deluge of national failure having huge detrimental consequences for the nation. It is the Tax Advisory Cell which can only assist these agents of economic change in becoming tax compliant. Pro-active efforts need be made by such Tax Advisory Cell immediately on noticing the success of a venture as the Assessing Officer is too ill equipped and cannot be saddled with the responsibility of assisting them to become tax compliant as in the environment where he is expected to function he is already hard pressed for time with weekly, monthly targets etc. to be adhered to, he neither has the time and may also lack the skills for providing the assistance

• In order to assist these new ventures to come within the fold of the law for their pastactions/inactions and carry on their businesses ensuring future compliances, past transgressions need to be first addressed through clear concessions under Tax Compliance Scheme/Voluntary Disclosure Scheme for such small enterprises.
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