A poor man ends up paying ‘service and other taxes’ if he eats at a restaurant for as little as Rs.100 but a stock market investor doesn’t have to pay a penny even if he earns 1000 crores as profits if his investment tenure is over a year as LTCG ( Long Term Capital Gains) are exempted from tax. Such taxation laws which favour the rich is the reason behind prevalence of mass inequality in our country. Taxes are what the government collects out of your earnings and profits and one should as an honest citizen be ready to pay them as it helps in nation building and progress.
The Finance Minister Arun Jaitley’s clarification statement to PM’s remark one thought was contradictory and not required. Why should the business community or stock investors be appeased with tax concessions when the poor are taxed in our country? People should not expect gains out of demonetization overnight. Corruption is like cancer and surgeon Modi has only done the operation but Chemotherapy and other post-surgery care remains pending. India is a country with vast resources and minus corruption, our nation can become a superpower in the years to come!
(The views expressed by the author in the article are his/her own.)
