REVENUE Secretary Mr. Ajay Bhushan Pandey has done well to spell out the modalities behind the new tax system and the thinking that went into having multiple slabs in tax brackets. Various theories have been floating in the country after the announcement of a new Income Tax regime which also gives the tax payers an option to stay with the old system. Contrary to the belief that the new regime has complicated things for tax payers, the system of having multiple slabs is in fact an opportunity to do away with mandatory tax proofs to avail concessions. Multiple slabs have also been designed to minimise under-reporting of income. A tax payer in the bracket of Rs. 0 to Rs. 5 lakh earning has two slabs to choose from, with the tax-saving benefits or without it. The options have been formed noting the saving behaviour of the tax payer. This clarity was very much needed to quell the anxiety over the new tax structure. Further simplification of the process in layman’s language is welcome as it will put an end to the varying conclusions over the benefits of the new tax regime.
TAKE IT EASY
A PACER can only understand the value of a fit body before taking a plunge into the rigours of international cricket. Former Indian star Zaheer Khan has gone through all of it during his stint with the national team. His advice to injured all-rounder Hardik Pandya comes from that vast knowledge of multiple comebacks after being injured. Pandya is recuperating after undergoing surgery for an acute lower-back injury in October. He was a likely candidate for India’s limited-overs matches in New Zealand but was wisely kept out of the squad by the selectors. Rushing Pandya at this stage will be highly detrimental for the 26-year-old’s career. He has a history of back injury which is frequent among fast bowlers. Pandya is an important player in India’s scheme of things for this year’s Twenty20 World Cup in Australia. He has a chance to test his fitness during the Indian Premier League beginning next month. For a long career, Pandya must keep in mind the virtue of patience as advocated by a seasoned warrior like Zaheer.