![]() | #1561 | |
BHPian Join Date: Aug 2005 Location: Mumbai
Posts: 277
Thanked: 65 Times
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Last edited by Eddy : 12th December 2016 at 11:14. Reason: No profanity please, even if it is masked. Thanks | |
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![]() | #1562 | ||
Team-BHP Support ![]() ![]() | ![]() Quote:
![]() Every time we pay somebody in cash without a tax receipt, to avail the 'discount' the vendor offered, it is a bribe we received from that vendor. He bribed us to pay cash so that he can skip reporting his income and escape income tax. Once we receive this bribe, we really don't have the moral right to rant about corruption. By paying cash, we cheat on sales/service tax. By not reporting cash income, the vendor cheats on income tax. Then both turn around and complain about corruption in government. That's like pot calling the kettle black. Let's use the demonetization excuse to stop paying cash and break this circle of corruption. Once we stop taking bribe, we can talk about government corruption. Quote:
Until there is definite proof verifiable by the court, it can be attributed to conspiracy theory, which are abundantly in circulation these days. Even media has stopped fact checking anything they print these days. Last edited by Samurai : 12th December 2016 at 11:45. | ||
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![]() | #1563 | |
BHPian ![]() Join Date: Dec 2007 Location: Bangalore
Posts: 201
Thanked: 150 Times
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![]() | #1564 | ||
Senior - BHPian ![]() Join Date: Dec 2007 Location: Gurugram
Posts: 7,940
Thanked: 4,690 Times
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One other thing, what nefarious activities were these crooks doing prior to the demonetization. They were not sitting idle. | ||
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![]() | #1565 |
Team-BHP Support ![]() ![]() | ![]() Here is a novel theory to dissuade people from hoarding the new currency... it is radioactive!!! ![]() http://postcard.news/must-read-depar...not-nano-chip/ Of all the conspiracy theories of demonetization, this one really takes the cake. Better not carry these notes in your pant pocket, if you are planning to have kids in future. ![]() |
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![]() | #1566 | |
BHPian ![]() Join Date: Feb 2013 Location: Mumbai
Posts: 344
Thanked: 503 Times
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To give you an example : Last weekend I went to a very old and well known eatery, Supriya restaurant which is bang opp nehru memorial centre in Pune Camp. Veteran Puneites will identify with this restaurant as it is very old and well known for its south indian delicacies. Right at the cash counter, they have the signage "We do not accept Rs. 500/Rs. 1000 old notes as per Govt. notification". So far so good ... but right below this, there is another signage that says "We do not accept credit/debit cards". The restaurant was decently full so there was no dearth of business. In Pune, there are several establishments especially in old Pune, Pune Camp, Laxmi Road etc. where some well known old shops still deal in cash. They will give you bill too, which is mostly handwritten and there is no mention of VAT/Service Tax etc. God only knows what kind of income such establishments are reporting to the Govt. Definitely they must be under reporting sales that's why the reluctance to go to the banking system. It is establishments such as these because of which Govt. is unable to increase its tax base. It is because of such places, income tax paying people have to continue to pay higher taxes. | |
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![]() | #1567 | |
BHPian Join Date: Oct 2005 Location: @ Driver's Seat @
Posts: 704
Thanked: 104 Times
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If this is the case, in theory, the notes do not carry any value, is it not ? | |
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![]() | #1568 |
BHPian ![]() Join Date: Oct 2013 Location: bangalore
Posts: 560
Thanked: 661 Times
| ![]() All this talk about cashless economy is nonsense. If I pay 100 bucks for a Biriyani, I want the whole 100 rupees to reach the vendor. If PayTM is gonna get Rs 2 from it, sooner or later the vendor is going to up the price to Rs 102. So it is a big NO from me. I do not want to enrich a new big business in order to make my govt rich. The govt anyway takes more than what it needs. They pocket most of it leaving paltry amounts for welfare and infrastructure. I'd rather my doctor not pay income tax from the Rs 200 I pay him. If I pay by PayTM and make the doc pay Rs 30 to the govt, then he will happily add the 30 to the consulting fee. In fact, I am not punishing the doctor, but myself! No thank you. |
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![]() | #1569 | |
BHPian Join Date: Apr 2010 Location: India
Posts: 465
Thanked: 724 Times
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About Paytm, it's just one of the options to pay. There are many other options too and most will charge only .2 to 1% of the transaction. Compare this with the income tax rate of a minimum of 10% which you are entitled to pay the govt if your income is above 25000 Rs per month. | |
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![]() | #1570 | |
BHPian ![]() Join Date: Oct 2013 Location: bangalore
Posts: 560
Thanked: 661 Times
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![]() | #1571 | |
Senior - BHPian ![]() Join Date: Nov 2011 Location: Bangalore
Posts: 1,158
Thanked: 2,180 Times
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![]() | #1572 | |
Distinguished - BHPian ![]() ![]() Join Date: May 2007 Location: bangalore
Posts: 2,666
Thanked: 13,857 Times
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The issue is not whether Govt should be paid tax, or how much of tax, etc. but that people who pay tax should not be at a disadvantage wrt those who evade tax. Also people are naive in assuming cashless economy results in less corruption/black money/tax evasion, etc. These things will come down ONLY if the enforcement and conviction become credible. Have we have seen any improved levels of enforcement and conviction in the new Govt? So many theories about why demonetisation is done! Sooner or later people will figure someone really goofed up the cost-benefit analysis, so there is this crazy exercise of finding some by-product benefits such as cashless economy and other penny-wise pound-foolish proposals. | |
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![]() | #1573 | |
Team-BHP Support ![]() ![]() | ![]() Quote:
How do cash-only retailer escape tax? First they don't report their income. But the local IT department is not stupid. They can easily estimate the income of the shop by monitoring the shop for a couple days. Once they are convinced the shop is under-reporting income, they will fleece a big bribe from the shop owner to overlook his crime. Since the bribe amount is always lower than the assessed tax, the shop owner is happy to pay bribe. Paying cash to any vendor enables corruption. | |
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![]() | #1574 | |
BHPian Join Date: Jul 2015 Location: Coimbatore
Posts: 695
Thanked: 889 Times
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The corruption scandals in our country are big and are highlighted even bigger, so we end up thinking paying income tax goes directly into the hands of these corrupt individuals. So, not disclosing income as self and as customer to a service provider is justified. We want our country to have infrastructure and facilities to be like that in the USA, but we do not want to comply and pay taxes like the folks in the USA do. For middle class people working on different organizations, the tax is deducted at source. If not, with the logic similar to yours, I am sure many would simply ignore filing IT returns. So, since this taxes are anyway forcefully taken at source from employees, do you want such people to continue to take all the burden of taxes which your doctor happily evades to provide you "cheap" service? PayTM is just a poor excuse for not coming into the system. I have not used PayTM wallet or wallet of any other kind. But I am surviving with just my cards & online payments wherever applicable. I never needed too much cash on hand. | |
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![]() | #1575 | |
BHPian ![]() Join Date: Sep 2007 Location: Pune
Posts: 346
Thanked: 266 Times
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Anyways, I will advise you to read up some articles on why people should pay taxes and how taxes help citizens eventually. Also, next time you are driving on that 6 lane highway speeding in your car at about 100+ km/hr and feeling happy, please spare a though to those people who honestly paid taxes so that you can enjoy that drive. Next time you are watching TV and feel a nationalistic jingoism boiling inside you when you watch your neighboring countries antics, and then angrily announce that India should have the best army, navy and air force; again, spare some thought to many who pay taxes and make this happen And hey, when you next time pay 'by cash' (as you want the 'full money' to go to the Biryani vendor), spare some thought on how in the first place did the note get printed? Who paid for the designing, the paper, the printing press, the salaries of the people who work there, how did the note get distributed to Bangalore (It is printed in Mysore and Nasik), who drove the vans, who paid for the vans, who paid for the drivers etc etc etc. As again (by now, I presume, you get the drift) spare some thought to those who paid taxes so that you have that note in your hand to pay for that Biryani. Spot one. Exactly the reason why cashless transactions should be encouraged. The less cash in the market, the easier it is for tracking income and ensuring that the fair share of the money reaches the government. Last but not the least blacksport, in case you are against paying that 1% to 3% to the wallet companies then you are in your right to think that. In this case use options like IMPS or UPI which enables transfers directly from your bank account to the vendor's bank account without any fees involved. Last edited by ptushar : 12th December 2016 at 16:27. Reason: Multiquote | |
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