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How Income Tax can be abolished and yet make India stronger.

Read in full the wonderful paper.

Anil Bokil , one of the key member of Arthakranti Sansthan was given time to share to PM Modi. He was given 9min for sharing but Mr.Modi heard him for 2 hrs. The fundamental framework had been patented by the Sansthan, but I personally feel the Sansthan should gift the proposal to India.

Arthakranti Proposal

What is Arthakranti Proposal and who has given the proposal?

“Arthakranti Proposal” has been given by a Pune (Maharashtra) based “Arthakranti Sansthan” which is an Economic Advisory body constituted by a group of Chartered Accountants and Engineers. The fundamental framework has been patented by the Sansthan.

Arthakranti Proposal is an effective and guaranteed solution of Black Money Generation, Price rise and Inflation, Corruption, Fiscal Deficit, Unemployment, Ransom, GDP and industrial growth, terrorism and good governance.

What is in the Proposal ?

“Arthakranti Proposal has FIVE point of actions simultaneously.

(1) Scrap all 56 Taxes including income tax excluding import duty.

(2) Recall and scrap high denomination currencies of 1000, 500 and 100 rupees.

(3) All high value transaction to be made only through banking system like cheque, DD, online and electronic.

(4) Fix limit of cash transaction and no taxing on cash transaction.

(5) For Govt. revenue collection introduce single point tax system through banking system – Banking Transaction Tax (2% to 0.7%) on only Credit Amount

Important Points to note:

(1) As on today total banking transaction is more than 2.7 lakh crores per day say more than 800 lakh crores annually.

(2) Less than 20% transaction is made through banking system as on today and more than 80% transaction made in cash only, which is not traceable.

(3) 78% of Indian population spend less than 20/- rupees daily why they need 1000/- rupee note.

What will happen if All FIFTY SIX Taxes including income tax scrapped :

(1) Salaried people will bring home more money which will increase purchasing power of the family.

(2) All commodities including Petrol, Diesel, FMCG will become cheaper by 35% to 52% .

(3) No question of Tax evasion so no black money generation.

(4) Business sector will get boosted. So self employment.

What will happen if 1000/ 500/ 100 Rupees currency notes recalled and scrapped :

(1) Corruption through cash will stopped 100%.

(2) Black money will be either converted to white or will vanish as billions of 1000/500/100 currency notes hidden in bags without use will become simple pieces of papers.

(3) Unaccounted hidden huge cash is skyrocketing the prices of properties, land, houses, jewellery etc and hard earned money is loosing its value; this trend will stop immediately.

(4) Kidnapping and ransom, “Supari killing” will stop.

(5) Terrorism supported by cash transaction will stop.

(6) Cannot buy high value property in cash showing very less registry prices.

(7) Circulation of “Fake Currency” will stop because fake currency printing for less value notes will not be viable.

What will happen when Banking Transaction Tax (2% to 0.7%) is implemented :

(1) As on today if BTT is implemented govt can fetch 800 x 2% = 16 lakh crore where as current taxing system is generating less than 14 lakh crore revenue.

(2)When 50% of total transaction will be covered by BTT sizing 2000 to 2500 lakh crores, Govt will need to fix BTT as low as 1% to 0.7% and this will boost again banking transaction many fold.

(3) No separate machinery like income tax department will be needed and tax amount will directly deposited in State/Central/District administration account immediately.

(4) As transaction tax amount will be very less, public will prefer it instead paying huge amount against directly/indirectly FIFTY SIX taxes.

(5) There will be no tax evasion and govt will get huge revenue for development and employment generation.

(6) For any special revenue for special projects, govt can slightly raise BTT say from 1% to 1.2% and this 0.2% increase will generate 4,00,000 crores additional fund.

Effects, if implemented today :

(01)Prices of all things will come down.

(02)Salaried people will get more cash in hand.

(03)Purchasing power of Society will increase.

(04)Demand will boost, so will production and industrialisation and ultimately more employment opportunity for youth.

(05) Surplus revenue to the govt for effective health/ education/ infrastructure/ security/ social works.

(06) Cheaper and easy loans from banks, interest rate will come down.

(07) Tendency of society will changes from scarcity to quantity.

(08) Spare money for political system for clean politics,

(09) Prices of land/ property will come down,

(10) No need to export beef to cover up trade deficit

(11) Sufficient fund for research and development.

(12) Society will be free from “Bad elements”.

Forward it to all and spread awareness about the proposal.

So a person has asked me a question.And i want you people to help him out.

I am a salaried individual.My income tax is deducted at source.Again i pay tax on withdrawal of my remaining amount by ATM or Cheque.
Then i do some grocery and pay sales tax on that. Whenever i top-up my mobile account Ive to pay some tax,then i pay taxes on every call or sms.(Literally if Ive paid my tax at top-up,why would Ive to pay tax on each call or sms)Then i have to pay taxes on call centre calls or advance balance services... Ive to pay taxes on my children school or university fee.
I pay all my taxes on fuel or other lubricants(Plus i paid my all taxes on purchase of a car and annual surcharges)Then Govt. need me to pay toll taxes every time i go out of my city.
And against all these taxes Government is failed to provide me and my family with good education,standard health facilities,uninterrupted supply of utilities and SECURITY.
I m not feeling safe anymore.

What am i supposed to do?
Can i file petition in any court against government or ask for the refund of all my taxes?

As a Karachiite, I would like to express my full support to Karachi Mayor Waseem Akhtars
request to Chief Minister Murad Ali Shah to withdraw his approval to deduct Rs 1.269 billion from the Karachi Metropolitan Corporations share in the Octroi and Zila Tax (OZT) to pay K-Electric through 48 installments of Rs 26.454 million per month; as a disputed outstanding amount between KMC and K-Electric !
According to the Mayor, K-Electric owes more than Rs 7 billion to KMC under various heads of accounts and the unilateral decision of the CM, according to him is "irrational" and "unjust" based on a "so-called" standard practice adopted for all the municipalities in the city and the rest of the province - this reasoning doesnt hold water as KMC cannot be placed in this category, as it is empowered to impose/collect fees/taxes in the form of land rent, octroi, import surcharge etc..
Karachi has suffered enough due to the non-existence of an Empowered Local Government. It is about time the Provincial Government decentralises, devolves and distributes power (including finance) as it expects the same treatment from the Federal Government under the 18th amendment !
Concluding, the present dispute between KMCs/K-Electrics claim/counter-claim should be left to the two organizations to resolve between themselves and the CM must not display a bias towards a Private Entity which owes more than Rs 62 billion to Karachiites as pointed out by the Federal Secretary, Ministry of Water and Power, as recently as January 26, 2017 plus a huge amount by depriving its customers (residential, commercial and industrial) of TOU billing facility under SRO 571(I)/2016 dated 24-Jun-2016.

Best regards,

Nazim F Haji
nazimhaji@gmail.com

Cel : 0321-8220999

All my life I have heard that Karachi pays most taxes in Pakistan and feeds the country ! Can someone make a 1 pager with proof that proves this ?

City of Karachi: The New Social Contract

I believe this is the only meaningful way forward for Karachi. We should become a leading light for the next 100 cities of Pakistan instead of waiting for the local government system to be fixed in the rest of the country.

1. Merger of Karachi into a Single District

2. Unity of Command under the Office of the Mayor

3. City to be organised around neighbourhoods e.g Gulshan-e-Iqbal, DHA, Clifton, Saddar, FB Area, Qayyumabad and so on instead of East, West, Central etc.

4. Each neighbourhood to have its Local Council with a Chairman. All members of the Local Council to be residents of the area.

5. Citizens of Karachi to be deeply involved in all levels of decision-making.

6. Members of the City Council should be less in number (e.g 30) but elected based on city-wide voting - top candidates becoming representatives. Their role is vision-setting and non-operational.

7. Mayor should be directly elected by the city and should form his own team: education, health, economy, security etc.

8. All non-elected Administrators, City Agencies & Organisations report to the Office of the Mayor and Local Councils including KDA, KWSB, Police, DHA, Clifton, Malir, Landhi, Lyari, Korangi, SITE and so on.

9. City should generate its own funds through land tax, road tax, parking tax, water and sewerage tax, taxes on electricity, etc. More sources (from provincial and federal) to be added to increase total collections to Rs. 300+ billion.

10. Mayors responsibility is building a sustainable, inclusive, vibrant, culturally rich, progressive, prosperous city with deep and ongoing consultation with the only stakeholders who matter: people who live here.

Please comment below and share if you agree.

Via Shahjahan Chaudhary

I was wondering about an idea, and wanted to run it by you all, we have a space in karachi export processing zone, and it is a special economic zone, where no govt regular law applies. how many of you would be interested in incorporating a IT company there, as its like opening outside pakistan, and all bank accounts even are in usd only.

inbox me if you are keen, and my brother Irfan Ahmed Allahwala will talk to the kepz chairman about some special package for it companies if we can have 25 companies wanting to start.

You can have a meeting with my brother about the benefits of it also.

I proposed this 20 years a go also and Salman Ansari at that time wanted the entire city to be sez, which did happen, but now since the taxes have changed again, this can be something that can be done.

There is no income tax on kepz companies.

Since Gilgit Baltistan is under developed tourism area of Pakistan
I strongly recommend & request all it’s citizens to request to government via Citizen portal to make internet on 4g and dsl free for everyone in Gb, like they get subsidized Wheat, no taxes, and duty free cars.

This will make them advance and make tourists share more photos and videos of this beautiful place, and make every citizen a marketing agent this region.

Since scom is a government company it can easily do this for the whole region and empower the citizens !

Same should be for FATA & Baluchistan

Is there a website that helps tax payers with information of all kind of taxes ?
You can share from anywhere in the world

#change

1. "The only constant in life is change." – Heraclitus

2. "Nothing is so painful to the human mind as a great and sudden change." – Mary Shelley

3. "Change is the law of life. And those who look only to the past or present are certain to miss the future." – John F. Kennedy

4. "Life is a series of natural and spontaneous changes. Don’t resist them; that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like." – Lao Tzu

5. "In this world, nothing can be said to be certain, except death and taxes." – Benjamin Franklin

6. "Change is inevitable. Change is constant." – Benjamin Disraeli

7. "To improve is to change; to be perfect is to change often." – Winston Churchill

8. "The secret of change is to focus all of your energy not on fighting the old, but on building the new." – Socrates

9. "The only way to make sense out of change is to plunge into it, move with it, and join the dance." – Alan Watts

10. "The measure of intelligence is the ability to change." – Albert Einstein

11. "Change alone is eternal, perpetual, immortal." – Arthur Schopenhauer

12. "Change your thoughts and you change your world." – Norman Vincent Peale

13. "Nothing endures but change." – Heraclitus

14. "You must welcome change as the rule but not as your ruler." – Denis Waitley

15. "All great changes are preceded by chaos." – Deepak Chopra

16. "Man cannot discover new oceans unless he has the courage to lose sight of the shore." – André Gide

17. "It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." – Charles Darwin

18. "When we are no longer able to change a situation, we are challenged to change ourselves." – Viktor E. Frankl

19. "Growth is painful. Change is painful. But nothing is as painful as staying stuck somewhere you dont belong." – Mandy Hale

20. "The art of life lies in a constant readjustment to our surroundings." – Kakuzo Okakura