Income Tax for You to Enjoy
In addition to basic questions like “what is income tax,” and “what is an income tax return,” one question that people often ask is “Why should I pay tax?” Let us look at the reasons you should pay your taxes:
• Common public utilities: We all live in separate houses but there are certain common requirements - transport facilities, water supply, health and hygiene, education etc. We cannot all have separate schools for our children, separate hospitals, airports or expressways! All that has to be common and so is collectively termed as “Public Utilities.”
• Funding these utilities: Huge funds are needed for setting up this infrastructure. E.g., we cannot personally afford to buy a fighter plane, but our government can, using the money collected in the form of income tax.
• Huge governmental setup: Projects like defense, internal security, public welfare etc. are managed by the government. Lots of workers are needed to implement these projects successfully. If we do not pay our taxes, the government cannot hire these workers. The projects cannot be implemented, resulting in inconvenience to all.
• The underprivileged: Basic needs like water, food and medical attention are every person’s birthright. The government and its agencies chalk out and implement programs to make these available to those who cannot afford. Money is needed to ensure that the programs achieve their objectives. The money to fund these programs is collected by way of taxes.
See the power we have to change for better, the quality of our own lives as also that of our fellow citizens? The easiest way to use this power is to pay our taxes and pay them in time.
Tags: Income tax, Money, Pay taxes, Taxes