Scrap income-tax...Or double tax-base?

Scrap income-tax: Subramaniam Swamy’s suggestion to scrap income-tax is worth implementing at the earliest. People already pay a number of indirect taxes under various names such as service tax, CST, GST, property tax, wealth tax...



Overhaul Tax System


Expanding the tax base and ensuring prevention of leakages are crucial for the country’s fiscal management. Agricultural income also should be taxed, maybe at differential rates. The government could implement some long-term measures. Make ground level tax officials work with local self-government bodies to identify potential taxpayer families. A share of the tax collection from corporations, municipalities, panchayats could be used for economic development. There should be clarity in incentives for honestly paying tax and disincentives for hiding real income. The government could consider issuing a different PAN card for individuals who have paid their taxes properly over the previous five years.
MG Warrier
Mumbai

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