Instead of Penalizing how govt can Empower
Honest Taxpayers: The Case for the Golden PAN Card
A thread for @nsitharaman @narendramodi
Honest Taxpayers: The Case for the Golden PAN Card
A thread for @nsitharaman @narendramodi
Union Budget 2024 brought high hopes for easing daily life, but many were shocked by increased taxes. There's a significant outcry among honest taxpayers, not just about the tax hike, but about the lack of benefits they receive in #IncomeTaxReturns
Out of 7.4 crore people who filed ITRs, approximately 70% claimed zero #tax liability. This means only about 2.24 crore individuals, or 1.69% of the population, actually paid #incometax.
The government can't build world-class infrastructure overnight, but it can show intent and incentivize honest taxpayers with benefits. How? One proposal is based on incentive and intent (if @nsitharaman and @narendramodi have true intent.
Convert the PAN card of honest taxpayers to a GOLDEN PAN CARD if they have paid a cumulative tax of a certain amount over the last five years.
Golden PAN cardholders get first preference in private school admissions, 100% reimbursement for two childrenβs education, first preference at airports and railway stations, and a dedicated grievance portal. It's about recognizing and valuing honest taxpayers.
This initiative doesnβt require a lot of money but a lot of intent and strict laws to support this cause. By implementing the Golden PAN Card scheme, the government can incentivize honest taxpayers and motivate others to pay taxes, ultimately broadening the tax base
Else #India is going to see a Brain drain toward the west which has not been seen earlier
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