And for a Friday listening to our Honourable PM delivering key note speech at Times Now Summit….. some thoughts….. some Hopes…..
PM announced that only 2200 people in India have declared Income over 1 crore whereas 15 million have bought luxury cars and 30 million have traveled abroad either as Tourists or businessmen. 57 million people file Tax returns of whom 43 million show zero tax liability – all salaried classes whose income is deducted at source. NON salaried including Doctors, Advocates, Chartered Accountants, Businessmen, Contractors, Liaison agents, Importers, Exporters, Estate Owners, Politicians and their Hangers on etc. etc. together only pay Rs. 23,753 crores – almost one third of what the salaried classes pay. Clearly we are a Nation of Tax evaders. Not surprising since some unscrupulous CAs and former Tax Dept officials are specialists in coaching how not to pay Taxes and “Fixing” the Issue as and when the need arises. Corruption….. corruption….. corruption….. !!!!
As an Honest Salaried Tax Payer for the last 45 years, one of the first to get a PAN Card in 1994 and even today paying surcharges and various cesses which takes Income tax to almost 36% and GST on consumption at 18%, we are squeezed to the core. I wonder why our Country is unable to increase Tax payers numbers. Start with the Rich Agriculturists. There are more than 8 lakh so called “Farmers” earning crores of Rupees and pay Zero tax (Agricultural income has no Income Tax); Businessmen with only losses in their business but buying Apartments and luxury cars; corrupt Babus and Politicians and their spoilt children with Disproportionate incomes and openly flaunting their ill gotten wealth. We don’t need Rocket science or any new laws to nab them. But why no action? Your guess as good as mine.
Let us all support the National Vision of a 5 Trillion $ Private sector based Economy. But it will need one big move. Take the VOW to pay taxes and curtail Corruption. Let’s all support the SEEGOS Volunteers and help build the nation, the honest way, the Tax payers way, the SEEGOS way.