The Catastrophe, Change into the Honest Economy
Suppose, our gigantic black money economy, changed into a lily white, pure and honesty based economy. All employers actually pay the amounts, they force their employees to sign and not pay only a small fraction of that amount. And they pay that amount for all the months in a year. Many employees will find that they actually signed for amounts which makes the income tax assesses. Suppose the employers paid all the arrears and also the income tax avoided with fine too. Suppose all the kirana colleges which offer,PG,Degree,even engineering etc education and affiliated to a recognized University, change from their small shops of three or four rooms to buildings fit for those colleges and stop paying only for six months in an year though they get the signatures of the lecturers for the entire year, that too in the UGC scale and not just between Rs5000-10000,per month(for six months only),and pay honestly for the full year, and all those lecturers discover that they actually were liable to pay income tax for so many years...
Suppose all the bogus staff actually materialised as the living very highly qualified teachers, Doctors Etc, retrospectively.
Now all of them are bound to ask one question:
"We want to be honest, now show us where to save, in the case of fixed deposits, the rate of interest is less than inflation and there is just no income, our principal also is getting reduced every year because of the inflation, show us the so called income in it which you want to include in our taxable income, No...We want a saving which actually is saving and functions as an asset, does not change into a worthless scrap of paper like the fixed deposit receipt. We don't want to speculate and enter the share market. Tell us where to save."
What answer can the finance minister give, actually coming out of his escape shelter of just telling about the increase in the rate of economic growth etc?What answer can he give to the simple question—where to save?
All our sage intellectuals who are smirking at me in telegraphic little hazy sentences give the advice, hide your savings in land, buildings, illegal usurious money lending, in kirana colleges or schools AND NEVER GO TO THE FIXED DEPOSITS.
Sorry, I am parroting instead of sending posts about our great Vedas, heritage etc,and solve problems by the time honoured method—close the eyes and behave that the problem is not there. God actually is saving us all with the wonderful black money economy, totally tax free, and hassle free, secure, respected and culturally conforming. Don't go to the banks at all.
YM
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Posted by: yeddanapudi m <yeddanapudim@yahoo.co.in>
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