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.
Subscribe to:
Post Comments (Atom)
Direct tax will definitely harm society if there are no changes by the government to cope with the substantial change or growth. The situation as stated above is located in India and their tax growth is not much as Canada's. Even though our economy is doing fine we consistently struggle with taxes throughout our lives but now just imagine the same concept in a country that is not so well off. Overall I think you did a great job on your post and it was very interesting. I also learned what direct tax meant and how it can affect everybody.
ReplyDeleteDirect tax really takes up alot in our life since HST is one kind of direct tax. In my opinion, I think the HST right now is pretty high and if the direct tax keeps increasing, more and more people will start to complaint about it. I hope that the direct tax will not increase rapidly in the future because our country is still undergoing the recession. Overall, I think you did a good job on this blog.
ReplyDelete