I humbly disagree with the contentions expressed in the two letters published in your esteemed daily-one by 'An elderly tax payer' on 16 January, and the other by Md Ashraf Hossain on 09 January. Both of them argued and opined that tax-free income limit for the elderly persons should be enhanced.
Income tax is determined on the basis of one's income, not on the basis of one's age. The more you earn the more tax you pay. If the elderly person has small income, he will pay little tax. The elderly people in fact have lesser expenses since they have small family and do not have educational expenses; their children are adult and married, have their own income and are likely to live separately. The routine expenditures of the elderly people include payment of the utility bills, shopping for the kitchen etc. Other than these, they do not have to make big expenditures like children's wedding, studies/higher studies of the children etc. Moreover, pension/family pension of the retired people are already income tax-free. There is no need for further waiver on their income. Those elderly persons having big income should find no problem in paying taxes out of their income. So why cry for enhancing tax-free limit of income?
As a nation we are 'anti-tax'. Be we old or young, we do not pay taxes properly. It is heard we have so many wealthy people, many many millionaires and billionaires but while the question of paying tax arises, we all fall poor having no income. We love to compare our government's welfare and development measures with those of the western countries but never do we try comparing the amount of taxes paid by the affluent people of those countries with those of our countries.
A pensioner and elderly taxpayer
Dhaka
© 2024 - All Rights with The Financial Express
