Why not the Government abolish Income Tax on individuals?
Do you think income tax should be abolished on individuals? Give your views in this discussion thread.
We all have to earn money to live. The Government levies income tax on the money earned. So we are paying tax on the money earned. The earned money is spent on buying the necessities of the family. Here again, we are paying tax on the money spent. Thus, we are paying tax on the same money for which we have already paid taxes. The money saved for future necessities also attract taxes. It will be a relief for the individuals if the Government abolishes the income tax totally or increases the zero tax slab to ten lakh rupees.