My Income-Tax Money and its Disappointing Returns..!!

With financial year ending, few days back we have received our form 16 to file our income tax return. Today when i am going through form 16, I am feeling literally disgruntle about my tax money payment to Indian government.

This disappointment is not because a lot of money going as tax, but there is no/enough return benefit or services from the government. I am just questioning to myself, is this money going to help in development of my country or help needy people through government funds or help in creating better services for people or it is just going in some corrupt politician’s Switzerland bank account?  I am filing my tax return as this month’s end dead line approaching with a feeling that I am throwing this money in gutter of corrupt politics. I am wondering what else we can do and come up with few suggestion to this problem, why government can’t provide a detail summary of investment they have done using my tax money. Don’t you think so people who are paying tax right to know where this money going?  Another approach will be tax payers should have rights to say or select to put his/her tax money with break ups in this particular areas/scheme of development from government or may be development of sustainable technologies? Never know this will help or not, but at least I feel that this will reveal out exact usage of money and reasons for lack of services which we face as problem from government.

There is another point to highlight about number of people who is paying taxes in India. From the article in economic times, I found that the number of income-tax payers are just about 35 million (2.9%) in a population of 1.2 billion. These 2.9 % people are mainly salaried people who have no choice (trying to hide earning from government) because employer has to cut their income tax. Looking at the number do you think that this taxation money will be enough to help out or give benefits to all 1.2 billion people? We sometime blame government for corruption, but first reason to get this corrupt government because we are corrupt. We, as in buyers, are responsible for buying things without any bill in all transactions and hence these retailers don’t pay any tax on it. So this money turned in as black money.   

At least to improve this, we as in people must buy things from mega retail store and use credit card/debit card for payment instead cash payment. This way money directly credited into bank account of retailers. So that at least whenever government/Tax Dept. wants to check the account of retailers, they can see transactions in store keeper’s bank account. Another approach what government can take is that, buyer’s needs to file all bills of its spending over the month to income-tax dept., so income-tax dept. know transactions of every shopkeepers from buyers submission and force them to pay right amount of tax and there is no way of hiding money here. Make more and more services online, so people don’t have to ask for favors to agents and government officers. This will give choice to people to avoid corruptions and favors. Making an online application for passport and Indian railway reservation is some of the big example which government has taken to improve situations and many more is in pipeline. Give extra/different benefits to the people who are paying taxes beyond some amount, this will help in encouraging to those who don't pay taxes at all.

At last file your tax return on time, pay right amount to tax on your earnings, question government about where did they spend our tax money?, and provide help in improving this country...!!