Review of Taxation policy
Very good points to be part of the party's agenda. One more point that needs to be included is reform of taxation system.
One of the best system to eradicate non productive works is to simplify taxation system. We should remove all taxes, direct or indirect. No income tax, sales, excise, toll, corporate, road, vat etc. Only one expenditure tax to be collected by all banks. No tax on any income (credit in bank account) and 10% (fixed) tax on all expenditure (debit in the account). The expenditure tax to be collected by banks and deposited in Government treasury every month which can be divided among central and state government in suitable proportion. All Rs. 500 / 1000 notes to stopped. Everyone (even the poorest) to have bank account. Everyone to be proud tax payer and therefore the owner of the Government (Roads, buses, railways, etc.) and is responsible for its expenditures. more
I dont' know how 2% shall be enough to finance the govt. expenditure. Income tax is 25% average- excise /service / enterainment / vat again taking 15-20 Of our income. it means there are people who are not paying tax. it is disappointing to know the small size of direct tax payers. If we are so poor than how numer of vehilcles / branded products are being sold and purcahsed in this country. Mumbai is one of the costliest city of the word. it means we dont have appropriate controls and tax either being not paid or underpaid. current tax is not very high per se but utilisation of these funds need proper monotoring . more
For more details of the proposed taxation system please refer to "Arthakranti tax proposal" wherein a tax of only 2% will be sufficient to garner enough funds for all state and central responsibilities. more
This content should be more modified. Please include some more points into it, so it could be shown in the Party agenda. Tax is a part of National income. It should be that much so, country`s basic necessities for food, education, road & other systems could be run in a proper manner. Regards, Anshul Kapoor On Wed, Mar 19, 2014 at 2:35 PM, AK Mathur wrote: > more
When tax will be only 10% of all expenditure no one will have any temptation to save the same. These croepatis are intelligent enough to dodge the existing taxation system and will be encouraged to invest in more productive works. more
Sh. Mahendra Kamdar ji, All tax collecting staff / consultants needs to retrained for some productive works and redeployed as per their choice within 5 years. Existing compensation to such staff can be continued till they are redeployed suitably for a productive work. more