I am waiting for the last week of Feb 2013 to see what PC has in his POTLI of tax reforms.
Everyday we are reading that this reform or that change is being considered...
One day they say that taxing more to people earning more than 12Lac per annum is the solution... but then it will lead to tax evasion, those people can relocate to countries which do not tax more or, it will lead to more BLACK money...
Better solution is to get those people to pay tax who are not paying.... Going by the numbers, around 40% people are not paying tax... (correct me if I am wrong). Instead of putting increased burden on 60% of people who are already paying, get those 40%. Thats when the suggestion that - get people to pay tax on income from agriculture! Fair Enough ?
When we are working so hard to save every penny, the govt is trying hard to pull it back to them.. I dont understand where the money is going...
Firstly we pay income tax .. then we pay service tax for whatever services we take.... then we pay VAT on whatever we buy.... and innumerable types of tax in day-to-day life...
Looks like we are paying more than 50% of our earnings to goverment in some or the other way...
And to add to that, they are also considering to tax on inherited wealth... Come on.... when our parents have already paid tax on it, why do we have to pay tax on it???
Everyday we are reading that this reform or that change is being considered...
One day they say that taxing more to people earning more than 12Lac per annum is the solution... but then it will lead to tax evasion, those people can relocate to countries which do not tax more or, it will lead to more BLACK money...
Better solution is to get those people to pay tax who are not paying.... Going by the numbers, around 40% people are not paying tax... (correct me if I am wrong). Instead of putting increased burden on 60% of people who are already paying, get those 40%. Thats when the suggestion that - get people to pay tax on income from agriculture! Fair Enough ?
When we are working so hard to save every penny, the govt is trying hard to pull it back to them.. I dont understand where the money is going...
Firstly we pay income tax .. then we pay service tax for whatever services we take.... then we pay VAT on whatever we buy.... and innumerable types of tax in day-to-day life...
Looks like we are paying more than 50% of our earnings to goverment in some or the other way...
And to add to that, they are also considering to tax on inherited wealth... Come on.... when our parents have already paid tax on it, why do we have to pay tax on it???
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