Chapter 4 Direct Tax

http://www.business-standard.com/india/news/direct-tax-collections-rise-19-in-apr-dec/421055/

Summary

This article tells us about how direct tax through the 9 months (April-December) of the current financial year increased 19.47 per cent to touch Rs 2,98,958 crore, compared with Rs 2,50,232 crore in the corresponding period of 2009-10. The finance minister wants us to maintain the same pace of growth, with which we will achieve the target of Rs 4,50,000 crore,” said a CBDT official. So from now on it is predicted that taxes would go up and contiunue to go up in the near future unless the governments make a change.

Connection


Not only about percentages going up in Crore in india, but how direct taxes are going up all around the country right now. It shows a huge inpact of how people are living right now, and how they are unhappy within what the government is doing. But as you can see the government isn't really helping the people but making it worse by supporting himselves funding things such as cancer research, resgistered retirement savings plan, school fees and many more. It might sound usefull but not many people are willing to waste there money for direct taxes because they might not need the benefits for what the government is offering to them.

 Reflections

This is surprising to me because i never knew that in other places there are country experiencing the same problem as us. I'm frighten for the future of our people because taxes will rise in the future and because of that our future would suffer from this problem. If taxes are contiuning to increase and wages are not changing then there would be a major disaster in the future. Hense, taxes should not increase if it doesn't make a huge difference to the survival of humans, because even if it is meant to help people it may become the death of us in the end.