Tax gotala

Yesterday I had a meeting with my tax consultant. According to him if I don’t invest a lac this year I am likely to pay approx 24000/- as taxes to the government. Now I will absolutely try and invest as much as I can to save some tax. But nevertheless I will end up paying at least a couple of thousands towards IT. I strongly feel that every one should pay our dues to the government, and if we have been provided some tax saving options (I am talking about the legal ones) then we should take full advantage of it.
For the office going aam janata like me, there is very less we can do to stop paying taxes even if we want to. After all the salary comes after tax deduction and there is pretty much nothing we can do.

This is what I came across today’s DNA

Film stars Amitabh Bachchan and Aamir Khan and cricketer Sachin Tendulkar are among celebrities and firms that owe the Maharashtra government Rs 13.32 crore as stamp duty.
The defaulters include Bollywood personalities like Kareena Kapoor, Priyanka Chopra, Bipasha Basu and director Priyadarshan, brand ambassadors, malls and mobile companies, Revenue Minister Narayan Rane told the state assembly on Thursday.
Action would be initiated under the Mumbai Stamp Act of 1958 against the defaulters if they failed to respond to notices and reminders issued to them, Rane said in a written reply to a query by Arun Gawli of the Akhil Bharatiya Sena.
Tendulkar and actors Suniel Shetty, Aamir Khan, Fardeen Khan and his father Feroze Khan owe stamp duty of Rs 3.18 lakh, he said.
Brand ambassadors who have not responded to notices include Amitabh Bachchan, his son Abhishek, Aishwarya Rai, John Abraham, Saif Ali Khan, Juhi Chawla, Preity Zinta, Ajay Devgan, Kajol, Lara Datta, Mandira Bedi, Sanjay Dutt, Dia Mirza, Karisma Kapoor, Zaheer Khan and Malaika Arora.
Bharti Airtel has challenged a notice seeking Rs 12.12 crore as stamp duty in the High Court and the matter is sub-judice, Rane told the House.
The recovery of the remaining Rs 1.20 crore is awaited, he said.
Gangster-turned-politician Gawli had asked as to whether the state government had incurred a loss of Rs 50 crore as a result of the defaulters not paying stamp duty on agreements.

A Whopping Rs 13.32 cr as stamp duty!!! Phew! That is a monstrously huge amount. I am sure if the state government is able to recover that money Mumbai will be able to sort out at least 50% to 65% of the monsoon flooding problems. It agitates me that rich people always manages to get away without paying their taxes, and the common man has to break his back for mere peanuts, out which 30% government gobbles up, without even a burp. These rich and the famous are enjoying the maximum benefits which are funded by tax which are paid by common man like us. It’s high time the state government pulls up their socks and gives a shock treatment to these biggies. Am sure they just will have to tackle a few high profile tax offenders and the rest will buckle up and pay.

1 Comment so far

  1. Mitesh (unregistered) on August 3rd, 2007 @ 8:24 pm

    13 crores is nothing compared to the funding provided by Central govt. (just for Mumbai’s infrastructure and development) – 500 crores. The govt. will be more bothered about how to spend that wisely. Besides, I bet there is much more money than 13 crores that is owed by small/local business owners, who don’t pay taxes or pay less by showing less income. They of course would never come to the limelight by media, which targets only celebrities. I am not defending the celebrities, just merely stating that even if the celebrities are made to cough up that money, its the aam junta’s attitude that needs a makeover.

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