July 24, is celebrated as income tax day every year in our country. It was celebrated on July 24, 2010, on the occasion of the completion of 150 years of Income-tax levy. The main motive behind the celebration of this day is to propagate the importance of paying tax.

Income tax is something which people don’t want to pay as we think that when we are already paying for food, shelter, cloth and why should waste a part of our income as income tax. We feel that income tax is a financial burden on us but in reality, it is for the betterment and development of nation which posse positive impact directly as well as indirectly on us.

The tax we paid is utilized in delivering medical facilities, education, National defence, infrastructure development to the citizens of our country. It would be difficult for the government to develop the effective strategies for the development of a nation if we do not pay tax or show false information to minimize tax amount. So, the tax paid by us is used in delivering more amenities to us. Bottom line is the tax is like karma ‘what goes around comes around’.

Hence, we should pay a portion of our income as the contribution to the nation’s development.

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