-- *Mar*Definitions of Income If the term income cannot be defined, then there shall be no income tax at all, as it cuts one’s very fundamental rights, as it makes the citizens subject to arbitrary law, which is not based on reason. Our constitution has not given that power of arbitrary imposition on the citizens by the government. The word income must be referable or traceable clearly and not get shrouded in vague discourses.
I give below my attempts at the definitions of the term ‘Income’. 1) Income means the benefit received or accrued. Note: It must not be assumed or notioned, even when no benefit is seen. 2) The clear remuneration actually received or accrued in clear identification. It cannot an arbitrary assumption. 3) Income means the expenditure of the one paying the return for the service or benefit given. The income must have an expenditure side of the one making payment. 4) Income is benefit derived from a source giving the benefit, to whom it is expenditure. 5) Where the source of income is subject to corrosion in value or total wipe out in value as in the case of Fixed Deposits in Banks, then the attributed income on bank deposits shall be paid by the government,after deducting the allowance for inflation from the interest and also the capital value. Otherwise no income can be arbitrarily assumed. In our country the Income Tax act has damned every creative and innovative citizen into a criminal escaping income tax. The very morale and self esteem of the creative people is eliminated. YM -- You received this message because you are subscribed to the Google Groups "Thatha_Patty" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/thatha_patty/CACDCHCKYHMmi9MH%2Bv%3Dbj6-ORikFGJ%3DmXAj8VvEZ_HG7%2Br0_1-A%40mail.gmail.com.
