Tuesday, 15 April 2008
How burdensome are the taxes
Of all the liabilities one has to handle, tax dues are normally taken as the ones of a worst order. Necessary evil as it is, people normally have no go but to pay. It hardly matters for the biggies as they can very well afford to manage it as for them it is just a routine modus operendi in their balance sheets -one item here and the other one somewhere else. Balance sheets of the business magnates are healthy enough to accommodate their financial burdens. Individual tax payers are a lot to suffer most as they can't afford manoeuvrings. They are hardly left with any recourse to divert their dues liability. Differ as it does from country to country, tax laws are not the same every where except that they are all common in heavily burdening their citizens in some name or the other. Some will name it a developmental activity or a measure of progress and some will call it an emergency imposition. There is competition between Central Government and the governments in States. They may differ on many counts politically but they are all uniformly one in branding taxation as a dire need. A normal tax payer doesn't mind slashing down his routine maintenance expenssses to pay a reasonably moderate tax but he has no access to venues where the money is actually utilised, nay misutilised. Why blackmoney hunkies should bother about this monstrous imposition? Normal man has to undergo a big pinch on that count. Devices do exist to save tax like investing hard earned money in a tax saving scheme but that again is a matter of having enough monetary strength. Wherefrom it can come? Infact undue imposition of tax tempts the people to resort to unfair means of saving tax by concealing their income in some way or the other. It is no justifying their act but factually speaking many a tax evaders are forced into behaving as such as a matter of compulsion as they can't afford compromising their family's bread and butter to prove a goodie in tax paying. You earn more for sustentation of the family, your tax liability increases and if you opt not to earn adequately your family suffers and there lies the dilemma of getting confronted between devil and the deep sea. Tax saving investments could be a frugal way of protecting your money against erosion in income but the scope on that count is only limited and too narrow for the purpose.