Tad Taxing

https://www.youtube.com/watch?v=s5dJVvimajA

It’s that time of the year when taxes have to paid. Taxation is the price we pay for failing to build a civilized society. The higher the tax level the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world while a totally voluntary society represents its ultimate success.

The air around paying taxes is like paying extortion money actually for quite a while I called it legitimate extortion.  I believed that the government like a highway man, says to a man, “Your money or your life…” the government does not indeed, waylay a man in a lonely place, spring upon him from the road side and holding a pistol to his head, proceed to rifle his pockets, but the rubbery is none the less a robbery on that account and it is far more dastardly and shameful. The highwayman takes solely upon himself the responsibility, danger and crime of his own act. He does not pretend that he has any rightful claim on your money, or that he intends to use it for your own benefits. He does not pretend to be anything but a robber.. furthermore having taken your money, he leaves you as you wish him to do. He does not persist on following you on the road, against your will, assuming to be your rightful sovereign on account of the protection he affords you.

Most of us either evade, or don’t bother paying, and if we do bother paying we don’t really take onus of where it is spent.

Since I belong to form 16A category I shall not do the indignant act.

Lets give this a thought why do we pay taxes?

Very simplistically put the money we [pay as taxes  goes into paying salaries of government workers, it helps to support common resources such as the police and fire-fighters. Tax money helps to ensures that our roads are safe and well-maintained. The taxes fund public libraries and parks. Education is also funded by these taxes.

The way pay taxes

• For those who receive a pay check tax is deducted at source. This is known as TDS…I know its tedious.
• When we buy things we pay sales taxes which are a percentage of the cost of the item charged by the store.
• When we own property we pay property taxes.

Paying of taxes is a civic duty, and the Indian Revenue System or the Income Tax department can penalize a person for not doing so.

Taxes have been part of the society for time immemorial. Currently taxation in India occurs under these circumstances,

• Salaries,
• House properties
• Professional
• Capital gains
• Other sources.

For me to understand the basic things like why taxes? How much am I taxed and why am I taxed for the politician’s gains? These are queries probably most of us deal with.

If we could pay our taxes at our panchayat, ensuring that 75% is retained for the development of the panchayat, people may pay their taxes more diligently, without trying to evade, after all it would mean, I am paying for my locality to have better facilities and the money does not go to create endless double roads with no restrooms or pedestrian consideration, nor will it go to some ladli Lakshmi who drives to her12th grade class on a Activa….

For god’s sake even tax payers have rights.

I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.”

https://www.youtube.com/watch?v=s5dJVvimajA