Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Most of the small business organization manipulate their books and show very less profit than what they make. Salaried people on the other hand end uppaying full tax even though they earn less than business organizations. IT department should look at how to make these business pay right tax. e.g. enforcing computer systems for all purchases and sales.
Today less than 20% of our poplution pays income tax whereas this percentages should have been higher. In order to encourage everyone to pay incometax which is necessary for government to function and provide ammenities to all the citizens of the country, i would request you to devise a system such that when slabs such that everyone is encouraged to pay income tax. Also while paying incometax the department should not ask for supporting documents as that action breeds corruption in the department as well as people feel discouraged to go through the activity of paying tax. We can look at examples of countries like Hongkong where income tax payment is easy and majority of the population pay their taxes. There should be some medical benefit attached to payment of Income Tax so that everyone is encourgaed to pay income taxes. Today apart from 20% who pay taxes we have many assesee who undervalue their income and escape payment of tax as they feel that tax structure that they are in are very steep. hence if you widen the coverage and reduce the percentage of tax, the result would be that country can collect more taxes than what they are collecting today.. The example is the service tax..
Re: Income tax
by Gopinathan Balakrishnan on Feb 11, 2010 06:56 PM Permalink
Hey Nikhil, It is not 20%. Only 3% of the total population in India pay tax.
Re: Re: Income tax
by Pankaj S on Feb 11, 2010 07:55 PM Permalink
if its 3% then its more important to encourage more people to pay more tax and divert the tax money to development of areas where its required
Re: Re: Income tax
by Pankaj S on Feb 11, 2010 07:55 PM Permalink
if its 3% then its more important to encourage more people to pay more tax and divert the tax money to development of areas where its required
Today less than 20% of our poplution pays income tax whereas this percentages should have been higher. In order to encourage everyone to pay incometax which is necessary for government to function and provide ammenities to all the citizens of the country, i would request you to devise a system such that when slabs such that everyone is encouraged to pay income tax. Also while paying incometax the department should not ask for supporting documents as that action breeds corruption in the department as well as people feel discouraged to go through the activity of paying tax. We can look at examples of countries like Hongkong where income tax payment is easy and majority of the population pay their taxes. There should be some medical benefit attached to payment of Income Tax so that everyone is encourgaed to pay income taxes. Today apart from 20% who pay taxes we have many assesee who undervalue their income and escape payment of tax as they feel that tax structure that they are in are very steep. hence if you widen the coverage and reduce the percentage of tax, the result would be that country can collect more taxes than what they are collecting today.. The example is the service tax..
