The speculation pertaining to income tax benefits that is in the offing has been a welcome development in the midst of depressing times of disease and drought. The tax payer will heave a sigh of relief at this unexpected gain. A silver lining on the deep dark cloud!! While this magnanimous gesture of the government may translate into votes for the ruling party, the policy that is taking shape in the realm of the finance ministry appears to be myopic; regressive that lacks creativity and vision.

Tax per se, in India is a euphemism for extortion that is legitimized. It is the nonperforming component of one’s income that is deducted at source as the payer looks up in disgust!! The tax payer in India is the most harried individual who needs to maintain a certain lifestyle while ensuring that he makes provision to meet exigencies of life and be able to survive through his retirement. The income that he generates in the thirty years of his employed tenure needs to sustain him and his dependents for almost fifty-five years of his existence. He manages to walk this tightrope of life religiously following the dictates of his head all the while disregarding the plea of his heart. In the event of a calamity that entails any extra financial implication on him would see him stumble and fall and reach out with a begging bowl.

A progressive nation needs to provide the security shield to its entire citizenry and particularly those who contribute their mite to its growth and prosperity. While formulating policies pertaining to taxation the thinking should work on how to add value to the funds collected.

For sixty two long years the govt. just collected money, the payback time has finally come!! Hospitalization is something that many among us have come to dread. More than the anxiety the inflated bills add to your woe. The insurance companies renege on their commitments far often due to burgeoning claims as the doctors laugh all the way to their banks. The retired class is the most affected as they are more prone to falling ill and hence the insurance outfits shun them. Medical facilities are of paramount importance and the tax payers will not risk their lives in govt. run hospitals.

The govt. of the day may increase taxes if it can assure the nation of good medical facilities at rock bottom prices. The same needs to be extended to senior citizens free of cost. Pranabda are you listening??

One of the primary things that one wishes to acquire once one settles down on an even keel is a dwelling. The construction industry ruthlessly defies all laws of economics while pricing its products. The cost escalation is on a daily basis as the govt. looks on passively. The land sharks pounce on all the land available wherever the govt. declares tax holidays and resell the land at exorbitant prices once the industries set in. The poor tax payer pays the bank interest all his lifetime towards the loan for housing.

The govt. of the day may increase taxes if it can assure this nation of checks in this lucrative trade or alternately provide cheaper yet good quality housing through its own housing development agencies. A roof over one’s head at a cost that is easy on one’s pocket can be so reassuring!!

Retirement blues play heavily on one’s mind as he reaches the high noon of his existence. The ROI on fixed deposits are waning and hence also the cash flow. The feeling of financial security starts slipping leading to unstable health condition.

The govt. of the day may increase taxes if it can assure social security to senior citizen who have paid their taxes on time and have been a part of the nation’s growth. The nation is accountable to them and should endeavor to erase the line of worry on their forehead and bring back smiles on their countenance.

A nation progresses only if the people spend at will without the fear of tomorrow. Every citizen will pay his taxes with a smile if he is assured that a part of it is for making his glorious tomorrow.

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written by Anuradha Banerji, November 08, 2009

we pay taxes almost with every transaction that we make and many a times feel that we ae not getting the benifits that we must get. after so much of fund allocation, there are villages were there are no medical facilities available. when we pay taxes we expect proper public welfare activities too.

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written by IdleMind, November 13, 2009

Well balanced analysis. I presume you have a flair to debate the taxing mechanism ... and the pros and cons have come out very well. Pranabda may not listen, yet the time has come when the direct and indirect taxes need to be streamlined to align with the development aspects of the common man on the road. Healthcare, Electricity, Drinkig water ... to Post retirement and insurance privileges must extend to as many citizens as is possible.

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