ITR Filing: Know what is the need to pay Income Tax?
The deadline for filing income tax returns is approaching; individuals must file their income tax returns for the fiscal year 2022-23 by July 31, 2023. On the other side, it is critical for those with taxable income to file an income tax return. But do you know why we have to submit income taxes?
Why should people pay taxes?
It is accurate to say that unlike some developed nations, India does not offer social security or other amenities. However, the government has a variety of duties to carry out, including providing health care through government hospitals (usually at no cost) and education (minimal fees are charged at municipal and government schools). The government uses taxes to fund a number of welfare programs, including employment initiatives. The government must pay the administrative costs for the thousands of staff working in various departments. The government is still required to pay the judges, magistrates, and other judicial officials’ salaries and benefits even when the legal procedure is taking longer than expected. It is necessary to understand that one must pay taxes as required by law and behave as a responsible citizen in light of these numerous responsibilities of the government.
