Sana Sultana Mussu (Student) 31 May 2017
*The big myth on Income Tax Payers in India;*
Data from a Chartered Accountants' group.......;
✍ FM said during his budget speech that we are largely a tax *'non- compliant'* society and presented that only *3.7 crores* are filing ITRs in this poor country of 125 crore population .
*The reply by CAs :*
We have 82 crore voters out of which,
- *75% are agriculturists* ie. 61.5 crores ( You exempted them straightaway, but they can also buy cars , bungalows etc. as you quoted.. Your political colleagues are also enjoying this exemption)
*Balance remains.......20.5 crores*
*Less:24% BPL class* ( Below poverty line)
Means 15 crore population ( which is non agriculturist and non BPL) ..
*Less : Senior Citizens, Non working wives, unemployed youths, below-taxable income earners...political class..(say 75%)* ... in a typical indian family only 1 earning member and 5/6 are dependent on him....
*Balance: (15-11.25)=3.75 crores is the earning class ... which can file ITRs and ... they are already filing it...*
.... So almost no gap as FM is stressing unnecessarily without knowing his country🤓😝😱
if FM wants more people to come into tax net ...then... instead foolishly resorting to rampant raids, surveys...notices... scrutiny ..... demonetisations etc etc viewed as *tax terrorism* ... he should defy his negative bureaucrats and .......
1. Introduce simple Income Tax on Agricultural Income on large landlords ( Say 10 Acres plus ) - you can add 26% of Agriculturists as tax payers *( Politicians are also enjoying this exemption )*
2. Instead of introducing 5000/10000 penalties on late filers of IT return ...
*come out with positive approach and introduce incentives to IT return filers* ( learn from Pakistan, IT assessee gets discount in purchase of Car )
3. *Introduce Privilege card to those paying taxes above certain limit.. privilege card to entitle assessee with benefits like Priority quota in railway tickets , Use of airport lounges, subsidised medical facilities, etc etc... *let Tax payers feel proud*
4. *Introduce medical insurance / life insurance on basis of average ITR filled... like coverage upto twice of Gross Income in ITR filed for mediclaim and ten times risk cover in case of life insurance*
5. *Introduce Pension after 65 yrs of age on the basis of tax paid by tax payer during his working life..*
Let honest taxpayers get certain direct benefits....
As on today, 3.3% of Indian population is filing ITRs as compared to 8% of China...adding large agriculturists to Income Tax may shoot the figure to more than 10% .... it may help you to cool your tax terrorism mindset and a tax compliant nation ...😊
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