Sir,
This has reference to the article ” Positive impact of demonetisation” DE Aug 31, 2018.
The author has highlighted that the major positive impact of demonetisation was to make India tax compliant , to which I would like to add:
To make society ‘tax compliant’ the Government need to put less tax on poor and middle classes so that more people will come forward for their contribtion towards nation development. At the same time, rich people should be charged more tax so as to enhance the revenue. Besides, in India only 33 percent tax is imposed on rich tycoons whileas in America it is 50 percent.
Being a banker, I have seen businessmen who earn 1-2 lakh per month on an average have an ITR of Rs 800. All know that business is done in cash by them, so they hide it.
While an employee is answerable to employer, has to meet deadlines, an elected representative is neither accountable to anybody nor does he pay taxes.
Pankaj Bharti
on e-mail
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