And for a Friday after the first ever acknowledgement of the Honest Tax payer’s role in Nation building, some thoughts….. some musings…..
The PM announced the Tax Payers Charter honouring the Honest with immediate implementation of Faceless Asessment and Faceless Appeals w.e.f. September 1. PM exhorted the Tax Babudom in the country to recognise the role of Tax payer in Nation building, to support in solving his/her problems and not harassing and intimidating the tax payer. The nexus between the broker, dishonest businessman and corrupt Tax officer must be broken. Imagine a country of 1300 million people where only 8600 people have declared income of more than 5 crores. Only 2200 Individual professionals – Lawyers, Doctors, Chartered Accountants, Filmstars, Politicians etc. etc. across India have declared income of over 1 crore. Rich Farmers and Agriculturists declaring income more than even 50 lakhs go scot free. No tax on Agriculture is a quick black to white money converting machinery.
India’s Tax/GDP ratios of 10.6% is one of the lowest. OECD countries have a range of 34% plus. The country needs investment and Growth. Our personal tax rates are very reasonable. Corporate taxes one of the lowest in the world. But we need more honesty and more businesses and Professionals must be in the Tax net. We need more tax payers. Every section of Society has to put up their hands and be counted. Tax evaders and black money merchants feed and in turn is fed by our Political system. But there is no alternative. With all its limitations, India can only survive as a secular, multicultural, multilingual, diverse and vibrant Democracy, to showcase the world as an alternative to the Chinese hegemony – dictatorial, imperialistic and expansionist system.
Let us all resolve to support the structural reforms in the Income Tax department. .Let’s support honesty and integrity in tax collection. Let’s fight corruption – any ideas???? Honest tax officers and income tax officials are welcome to SEEGOS Momentum. Let’s do it the truthful way, the transparent way, the SEEGOS way.