Wednesday, 8 February 2017

A Comment on suggestions for eliminating Personal Income Tax

My Comment on an article "Mr.Jaitley, isn't it time to get rid of personal income tax for the sake of better economy?" posted in the Dated 07/02/2017.

"The suggestions and the argument presented by this author are very justified. 

But, a loss of Rs 3 lakh crore to the treasury, if we discontinue the personal income taxation, is a matter of concern. How to recover from that huge loss of revenue?

Bank transaction tax, an increased GST Rate, and increased fares of travel, etc. can fetch some revenue. But, up to what extent can you increase these things?

Some great planning should be done with due care for the people being targeted with additional burden due to this impact on revenue."

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