Find answers, ask questions, and connect with our
community around the world.

Activity Discussion General Discussion What is income tax? Why is it important to pay? Reply To: What is income tax? Why is it important to pay?

  • Shivani

    Member
    June 17, 2021 at 9:24 am
    Helpful
    Up
    0
    Down
    Not Helpful
    ::

    It is only because of the taxes we pay to the government in the execution of civilian operations. In other words, without taxes, the government can’t run the country. The income tax is one of the main sources of income for the government of india.

    1. IT HELPS IN THE DEVELOPMENT OF A NATION

    The cost of running an entire country, especially one that is as large and populous as ours, it is huge. It is only because of the taxes we pay to the government in the execution of civilian operations. In other words, without taxes, the government can’t run the country.

    The income tax is one of the main sources of income for the government of india. When people begin to believe that the income tax is a tax, and is paid for it will have a direct impact on the growth of the country, as well as leading to social collapse.

    2. SOCIAL SECURITY

    Currently, there are more than 50 Union Government programs in India. Since the employment opportunities, programs, subsidized mortgages, gas and advantages for the cooking process, and the retirement program, the state has launched several programs in support of the various sectors of the society.

    These schemes take advantage of millions of people in India and would require Rs crore in order to be effective and to be able to work on. The payment of the taxes, you will play an important role in the success of these programs, and it also gives the government the opportunity to work on a new social assistance programs.

    3. IMPROVEMENTS IN HEALTH AND EDUCATION

    A significant portion of the tax is paid to the improvement of the health care system in the country. There are hospitals that offer medical and surgical services for free or at a minimal cost. Over the years, the quality of the services provided by the public hospitals have improved by leaps and bounds, and it’s only happened due to the taxpayer is required to pay for it.

For Worksheets & PrintablesJoin Now
+