A point made open letter to Modi from an Industrialist in the time of demonetisation
A Hyderabad industrialist has asked Prime Minister Narendra Modi if he will demonetise again if black money returns in 10 years time.
In a clear yet emotional post, Venugopala of Balanagar, Hyderabad lists the tax he and his family pays when it buys anything, including service tax for health insurance. He offers to pay the full tax he should be paying instead of the Rs 30000 he currently pays. But asks Modi what he should do when he has to pay a bribe of Rs 10,000 every month to keep his small scale industrial unit running and churning out products. Venugopala signs off as a fan, here’s his letter:
Dear Prime Minister Narendra Modi sir,
My name is Venugopala. I have a small industry in Balanagar Hyderabad. My industry turn over is about 2 lakhs per month. This means per year it is 24 lakhs. Honestly and truthfully with all the exemptions I should be paying about 3 lakhs Income Tax to Government. But I just pay 30,000. Why?
I was born in a middle class family and with hard work and studies I came up well. Initially I did some job for a living but after saving every paisa I have grown to the level of having my own start up industry. About 1 lakh is enough to take care of my family’s needs and other 1 lakh I invest (either in gold or shares or buying lands).
Read his full letter
He signing off with a solid question to Modi!
In another 10 years the country will see again a huge rise of black money. Will there be demonetization even then? This is not why we have elected you sir. Win our trust, do justice for the taxes we are paying first, then people will repose faith in the governments. We are ready to support you, and waiting to see you act!”