Payment of Taxes May Soon Be Declared a Fundamental Duty
Make My Returns is a portal that is dedicated to solving taxations issues for online users. It has on its panel some of the leading Financial Advisors and Experts on Tax Laws in India.
Mumbai (I-Newswire) October 31, 2012 - The Finance Ministry of India has plans underway to make the process of paying Income Tax a fundamental duty for a citizen of India. Under Article 51A of the Constitution, citizens of India are expected to fulfill 11 fundamental duties towards their country. With the addition of another fundamental duty of paying taxes, citizens will have a total of 12 fundamental duties that they would be morally responsible for.
This move is seen as a bid to increase the number of taxpayers in a country which sees only a paltry 3% of its citizens file taxes with the Income Tax Department of India. The country has a total of only 33.73 million taxpayers, who contribute towards the total tax collected, an amount which makes India’s ‘Tax to GDP Ratio’ only 10.1%, a ratio that is among the lowest in the world.
The Fundamental Duties of an Indian citizen, as laid down by the Constitution of India, are not legal obligations but moral ones that lay down some basic rules that true patriots of the nation would be expected to follow. Failure to comply with these fundamental duties does not warrant any legal action but those who realize their responsibilities towards the nation fulfill their duties obligingly.
The move to make the paying of taxes a 12th Fundamental Duty is therefore merely seen as one that will make a citizen more aware of what he should be doing to contribute towards the growth of the country, rather than a requirement that is legally binding.
The question as to whether this move will have any real impact is well answered by Mr. Aashish Ramchand, the Co-Founder of Make My Returns one of India’s leading tax-help portals, when he says, “The 11 fundamental duties of an Indian citizen that is laid down by the constitution does not bind him to these duties. These duties are there to be followed but not enforced. I believe most Indians may not even know about these fundamental duties. Bringing tax compliance as a fundamental duty in our constitution would not necessary serve the purpose of increasing tax revenues of the Government. The purpose that it will serve is that it will just remind Indians the responsibility they have towards paying their taxes. It will not compel them. I personally think if some stricter provisions with respect to nonpayment and non compliance of taxes were added to the Income tax act, only then will the majority of our non taxpaying Indian population will start paying taxes. Also, if such provisions were made aware to the general population, then I believe tax compliances will improve drastically.”
The bottom line of this entire episode remains that making the paying of taxes a fundamental duty will only put citizens under a moral obligation. To improve the situation on the ground level, changes need to be made to the Income Tax Act. This means that those who do not pay their taxes would be liable to face a more serious action that simply being accused of failing to fulfill their moral duty towards the nation.
The recent past has seen enhanced activity of the Income Tax Department and the Finance Ministry towards increasing awareness of the process of paying taxes. These efforts have even seen the inclusion of a chapter dedicated to the importance of paying taxes in the curriculum of children between 10-18 years of age, in collaboration with the NCERT.
For more information please visit www.makemyreturns.com
mail us at: email@example.com
About Make My Returns
Make My Returns is a portal that is dedicated to solving taxations issues for online users. It has o More..n its panel some of the leading Financial Advisors and Experts on Tax Laws in India. Along with a panel of financial and taxation experts, the company offers users a simplified Tax Filing Service.Less..
Make My Returns
212 Jolly Bhavan No. 1, 10 New Marine Lines, Mumbai - 400020
Phone : 022-66121000
Published On:October 31, 2012
Print Release:Print Release
If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.
Service Apartments in South Delhi Summer Special Offer Rs 35,000 Only
Kul Ecoloch Pune - Offers New Residential Luxury Apartments at Hinjewadi
Is Your Organization Prepared to Support Virtual Work?
Long-Term Investors In Danger While Higher Inflation Rate Is Expected
Matthew Splitt Consulting Helping Building Owners Reap Internet Access Cash