June 05, 2013

Why do we use the word RETURNS for our Income tax details submitted ?

The answer lies in the situation prevailing in British India in 1860.

Before the Revolt of 1857 , East India Company officials were most corrupt. East India Company's Rule ended in 1858 , after the Great Revolt ( First War of Independence of 1857 )

In the Reforms introduced by the new British Crown administration,every British official RETURNING to England had to submit details of the property he had acquired during his stay in India ( Hence , the word RETURN )

 Robert Clive , Warren Hastings had acquired millions by looting Indians ( Back in England , they were derisively called "NABOBS `
) "

1 comment:

Ashwani Kumar Aggarwal said...

Real Thugs / Pindaris were Robert Clive , Warren Hastings and such like officials of the East India Company .

East India Company was the World 's first Organised Drug Traffickers Syndicate.

East India Company made Indian farmers grow opium which it then exported to China