April 1st is a fool’s day for various reasons. One reason is for the income you get. I earn a decent salary and I do not mind paying tax to the development of my country. However, the tax calculation always fools me by deducting 70% of the month’s salary in April.
I pay taxes for everything right from my hair cut to the beer I have at night. I think the government should come up with “linked tax paying system” wherein an individual will be taxed 20% of his CTC. The individual should have option of getting it deduct from salary or he should do all his spends through debit/credit card which will have his PAN(permanent account number). At the end of financial year a consolidated report will be made to see whether he paid 20% tax or not, if not the remaining amount will be deducted in his salary. By doing this all transaction will be accounted and more tax can be collected and we can eradicate black money from the market.
Hope such kind of a scenario comes soon and I am fooled for some other reason next April.
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