Shall We Abolish Income Tax?

Abstract

The fact that some countries can carry on without the levy of income tax is no ground for us to emulate them but ways must be found to mitigate the hardships caused by the income tax law. INDIA is going in for general elections. This summer we will have a newly elected government to run the country. It is anybody's guess what policies that Government may follow. In the run up to the elections, one of the major parties has brought up the issue whether income tax can be abolished. The idea is no-doubt startling. Taxes play an important role in government finances.