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Why the rich should not be taxed more

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Last year, only 35 million people, or less than 3% of the country’s population, filed tax returns. Only 1.46 million people declared income of over Rs 1 million a year. That’s indeed appalling. Clearly, announcing a special tax rate for the super-rich will not make more of them comply with the tax. The point is to use the tax information network properly to increase compliance so that all those who should be paying tax actually do so. Burdening honest taxpayers further is both unjust and undesirable. Read More

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