Chartered accountants (CAs)have a greater responsibility in educating and creating awareness of the merits in income tax remittance by the public, according to Income Tax Officer K. E. R. Chandra Sekar.
Only when the public pay taxes, the governments will be in a position to plough back the money into society, he said at an interactive session organised by the Ramanathapuram District Merchants Association here on Saturday. As a welfare state, it is the responsibility of every individual to contribute for the growth and development of the economy, he said.
Giving an outline of the salient features of income tax slabs, the official said that in a country such as India, only a meagre percentage of the population paid taxes. More and more people should join in as it would be a proud moment for them. When compared with many other countries across the globe, the tax structure in India was fair and progressive.
Only when the country had adequate reserves and lesser debts, the economy would grow, be stable and also be safe. To achieve this goal, the role of the public was important, he added.
Auditor M.A. Sundararajan and association president B. Jagadeesan were among those who spoke on the occasion.
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