These days’ economics is one of the fanciest topics of debate in our country. We talk about various kind of taxes, but ever thought why one have to pay taxes?
We have governments in state and central. And to execute them we have government officers, bureaucrats, legislators and staffs. The salary make they receive for their jobs comes from the taxes.
Taxes make many forms, too. When you work at a job you pay income taxes as per your earnings.
When you buy something at a store, you also usually pay sales tax, which is a percentage of the cost of the item charged by the store. If you own property you also pay property tax according to the value of your property.
Although paying taxes is a requirement of law but it is also your civic duty. If you don’t pay taxes the government agency like income tax department and IRS (Indian Revenue Services) will require you to pay your taxes or else face penalties or in some cases even jail.
The money paid in taxes is not only used to pay salaries of government workers, your tax also goes to support common resources.
Tax money helps to ensure the quality of roads you travel and to ensure the beauty and heritage of our historical monuments and gardens. Our taxes help poor children to study in schools running by government without fee.
So to ensure a developed future of our India you must pay your taxes timely and properly.