If you get a Golden PAN card for your Tax Contribution, then you can get special benefits from it such as priority in your children’s school-college admissions, critical health care status in private hospitals.
Priority in, special facilities at airports and priority in legal matters. So do you agree with what you are currently paying?
Union Budget 2024 had great hopes to make life easier for common people but many people were shocked by the increased taxes. There is a lot of resentment among honest taxpayers not only about the increase in taxes, but also about the lack of benefits available to them. It seems that the government has forgotten the three important ‘I’ inclusions, Incentivization and Intent in the budget.
Lack of three ‘I’s
In 2014, Prime Minister Narendra Modi asked people to give up gas subsidy and many people did so voluntarily. Today, however, not one of them would do so willingly. The change is in contrast to a UK poll, which found that twice as many Britons want tax increases, not cuts.
In FY 2022-23, nearly 70% of the 7.4 crore ITR filers claimed zero tax liability. This means that only about 2.24 crore people or 1.69% of the total population actually pay income tax. Less than 2% of India’s population pays direct income tax. Politicians, businessmen and actors masquerading as farmers are a large part of such people who earn but do not pay taxes. Therefore, a small portion of taxpayers are under more pressure every year.
Golden PAN Card Solution
Government cannot build world class infrastructure overnight but it can show its intention and thus it can encourage honest tax payers by giving them benefits.
- Convert PAN Card to Golden PAN Card of bona fide taxpayers, if they have paid a certain amount of cumulative tax in the last five years.
- Priority in admission to private schools for Golden PAN card holders and 100% reimbursement for education of two children until public schools reach world class standards.
- Priority and 100% medical exemption in case of critical illness and emergency in any private hospital, compared to Ayushman Bharat for the poor.
- Priority at airports and railway stations
- A dedicated Grievance Portal for Golden PAN Card holders.
- Legal aid with priority in legal matters.
