In the corporate world time is money ...we use the "bribe" tool and the cherry on top is reward.
We then graduate to creative bookkeeping/tax avoidance all for wealth creation.
My concern .... will it ever stop...this has become acceptable business practice which is passed over to the next generation
Sharda ji, actually there are two sides of any coin and so is the case here.
You are correct in saying that such tax avoidance etc is for wealth creation but it isnt the sole reason ! Its just a facet amongst many others. A businessman, in order to give life to his ideas and make the projections on paper mightier enough to stand tall in form of concrete results, has to deal with numerous third parties. His encounter with various kinds of regulations and laws is inevitable.
A single 'business' comes under the umbrella of multiple Acts and Bye laws and he can easily be made vulnerable under any Act on the occasion of any minute default which can otherwise go unnoticed. And, the system as a whole never lets a growing businessman to bloom unless he compromises in a way or the other. Though he can choose to be wise and accept the compromise which results in lesser ill ! But, he cant escape it outright.
Many a times a businessman tries escaping from income tax as it is the most safest area for such avoidance, but there are many other kind of taxes which he cant escape that easily.
Moreover, even on being completely transparent in terms of tax payment one has to get various kinds of work done through external agencies and government departments, which in turn are crooked many a times and cant let anyone out, unless they get a hefty treat (bribe ...)!
How will that businessman compensate for this bribe, and if he doesnt, how long can he go?
We in India are under a sort of situation of tax stress in a way that its very difficult to expand the business activities if one pays all taxes at every point of time alongwith the customary heavy bribes !
They compensate this expense by avoiding tax many a times.
And people who talk about utmost honesty are over shadowed by many others waiting for their turns to rise high that way !
The system has many a loopholes which need to be filled..
However, its easy for people to talk about utmost honesty but those people often remain unaware that whatever infrastructural development they are witnessing everywhere has somehow come up facing all such drifts ! People who are into it better know that !
