GS' Beats

Experience = Best Teacher? Almost There.... US is still grappling. Greece was almost knocked out dead, only to be saved by a strand. Italy has already shaken the world over. Spain is already cornered. Portugal, Japan, France are in queue. Japan is no longer the athletic economy it used to be. Often standing still and sometimes contracting, with the frequent natural calamities not being helpful either. Pakistan never had an economy. Russia always had only a black economy. If reports are to be believed, with the retirement of China's golden generation, it will house chunk of world's pensioners. Though they are paid, there is no productivity, and hence China may even struggle to grow, leave alone the frentic pace it is known far. Despite devaluation of their currency. Despite their military threat. Despite their new found expertise in arms trading. Half the world economy is still in tatters. Who is next on the hit list? India? May be. We may still escape. It depends. ...

"Pay your taxes. Hold Your Head High." A familiar sight for people who visit the Income Tax Department regularly. It is familiar even to people  travelling / commuting through that place. Requesting or demanding the Assessee / Taxpayer to pay up his taxes, because it is his responsibility is understandable. After all, the taxpayer / assessee should pay up his taxes. What if he doesn't? Then whose responsibility is it enforce collection? Needless to say, it is the Government's, or more particularly the Income Tax Department. To Summarize:  An Assessee or a Taxpayer's Responsiblity: To Pay up his taxes The Income Tax Department's Responsibility: To enforce collection, if the assessee not pay.  So far, so good. People who are employed or providing services on hire basis, would appreciate the following rant better than those who are eons away from any tax liability. Let's take a small example. There are two people. "Chaddi" and "Buddi...