Role of Income Tax in Nation Building'. eassy
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Role of Income Tax Department in Nation Building
Everyone wants facilities, better life conditions, advanced
infrastructure, and general prosperity; however no one is genuinely interested
to work to create them. This arduous role of creating these facilities, better
life conditions, advanced infrastructure, and general prosperity and
development requires lots of funds and capital which no individual can provide
or afford. The Government shoulders this responsibility. And the tool that the
Government uses to collect and amass this whopping amount of funds and capital,
is the tool of income tax.
Funds and capital are not evenly divided among the people of
a country. Some have abundant funds; some have moderate funds; some have meager
funds, and some have almost no funds. The Government itself has no funds or
capital; it generates funds and capital from taxes. Income tax is the most
potent and effective medium to collect these funds from people according to
their capability and affordability to pay the tax. The Government levies higher
income tax on those who earn more. People who earn moderately, moderate income
tax is levied on them and people who earn very little, no income tax is levied
on them.
Though people generally pay their income tax quite
unwillingly, they fail to see that the revenues collected from income tax are
directly spent on the national projects of development. It may be laying new roads or railways in the
country’s less developed areas, states or provinces; it may be buying new
defence equipment for the safety of the country; it may be setting up new heavy
industry units; it may be providing subsidized fertilizers or LPG cylinders to
the poor people of the country; it may be sending new rockets and satellites
into the space; it may be constructing new hydel, solar, nuclear, or thermal
power generation units across the country; all projects of national development
are run and financed by this revenue collected from income tax.
Besides, contributing to national development and security,
income tax creates equality among the citizens of the country. It is a
wonderful tool. And we must pay our income tax honestly for the prosperity of
our nation.
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