By increasing the Personal tax limit by only Rs 10,000 who is Mr Chidambaram trying to please??????
In fact, I think he is cheating all of us.... This increase will not bring any benefit to any common man.
Let us all write to the FM/ PM saying that we are much better off with the exisitng limits of Rs 1 lakh and we don't need any token increase or charities offered by Mr PC. Let him take it back to the existing Rs 100,000 instead of the proposed Rs 110,000 which is a pittance.
Let us make it known very clearly to the FM, PM that we as TAX PAYERS ARE NOT BEGGARS .........
Let Chidambaram take it back to the earlier limit of Rs 100,000 and we are very happy to concede the addtional tax concession of Rs 1,000 for the betterment of the nation's coffers ??????
Looks like the poll debacle in the 2 states are not enough. Let us teach these guys in the next election.....
RE:Let us all give it back....
by Confused on Feb 28, 2007 08:37 PM
I propse lallu as the next PM. He can bark at madam unlike the present PM and FM thay are paltu kutta of madame...
RE:Let us all give it back....
by Raj Malhotra on Feb 28, 2007 09:22 PM
this isn't like your salary raise - a 10% increase in exemption is reasonable, it provides a decent break for people with lower gross incomes. there is no need to write to the FM,PM that you are not a beggar - you're free to refuse the exemption and pay additional tax, but let the people who find the exemption beneficial use it!
RE:RE:Let us all give it back....
by Ravi Kumar on Feb 28, 2007 09:29 PM
Lalu can do with his railway budget the need of the poor I think lalu can become both fm and rm
RE:Let us all give it back....
by Confused on Feb 28, 2007 08:39 PM
If the tax payer is paying tax then he is consumer of the government shop so all the consumer act should be applicable. Taxpayer should ask for their right what happens to their money how it is utilised is it utilised for the poors childrens or the childrens of the politicians? What can you expect from the present lot: PM and Prez past sarkari babu, FM is born to become typist/steno. Lalu though anpadh proved that he is leader...
RE:Let us all give it back....
by viju baby on Feb 28, 2007 08:54 PM
I think your thinking is totally irrational and illogical..as far as my understanding goes,Rs1000 which an individula will save is equal to more than a months mobile bill..like wise i give lots of example,but the one which i ve quoted is enough to wake u up...i guess u start better realising value of 100 rs..it means lot to other..
RE:RE:What can you expect from the present lot:
by Confused on Feb 28, 2007 08:33 PM
I will tell again and agin... so that people will remember during the next election... What can you expect from the present lot: PM and Prez past sarkari babu, FM is born to become typist/steno. Lalu though anpadh proved that he is leader...
RE:RE:RE:What can you expect from the present lot:
by raju natarajan on Feb 28, 2007 08:52 PM
Well besides, he did not even spare the common man particularly the retired who were trying to retain the money its worth by parking them in mutual funds and stock market since interest in banks and post office is no match to the galloping inflation. Where does he think such people can park their hard earned money while retaining its value. The Divident Distribution Tax is avoidable.
By increasing the Personal tax limit by only Rs 10,000 who is Mr Chidambaram trying to please??????
In fact, I think he is cheating all of us.... This increase will not bring any benefit to any common man.
Let us all write to the FM/ PM saying that we are much better off with the exisitng limits of Rs 1 lakh and we don't need any token increase or charities offered by Mr PC. Let him take it back to the existing Rs 100,000 instead of the proposed Rs 110,000 which is a pittance.
Let us make it known very clearly to the FM, PM that we as TAX PAYERS ARE NOT BEGGARS .........
Let Chidambaram take it back to the earlier limit of Rs 100,000 and we are very happy to concede the addtional tax concession of Rs 1,000 for the betterment of the nation's coffers ??????
Looks like the poll debacle in the 2 states are not enough. Let us teach these guys in the next election.....
There is a dire need to reduce income tax for the existing income slabs. On the other hand more slabs should be created for progressively higher taxation upto annual income of Rs.1 crore. Thus people with income of Rs.1 crore and above pay a fixed % as income tax which should be significantly higher than those with annual income of Rs.10 lacs. Family size should be factored in for income upto Rs.10 lacs p.a. Thus, a bachelor with with working parents pays more tax for the same income than a family man with 5 dependants. Foreign travel for holidaying with family and ownership of cars of 1600 cc and above should be closely scrutinized by tax authorities rather than troubling the masses. These measures could help in better income tax realization through a deeper tax net rather than a wider one.
More tax rebate for women... where is the equality???
In a country like ours where men are bread winners in most of the families, they(men) are taxed more while families where both husband and wife are employed, the woman gets concessions in the tax.
Any tax benefit to women who are only earning member is justified but when both men and women of the family are earning this will serve no purpose.
RE:The new threshold limit in income tax for women will be Rs 145,000
by Confused on Feb 28, 2007 08:29 PM
When you wink the eye towards the women they cry that we are exploiting them... but government is doing sexual discremination by it self...
besides for most of the women employee the both husband and wife earns so why more tax rebate to those double income people?????
RE:IT Companies will run out
by somin wani on Feb 28, 2007 08:28 PM
i agree. the FM is out to s***w the industries which are doing well and unsettle them. IT companies are competing globally and this tax would increse their costing. FM does not understand that indian IT companies are getting stiff competition now from china and Philippines. he should go and see the no of IT projects that are going to Philippines due to high infrastructure cost in India.
Mr Chidambaram is a man high on reputation and low on delivery. For a leading Supreme Court lawyer who has an MBA from Harvard, his work is quite below par.
It seems crazy that in a democratic country, honest employees in companies who earn a salary pay tax at 30% plus whereas persons who are "smart" and play the stock market and engage in risk friendly activity are subject to only 10% or less tax on capital gains. Is he trying to push all employees to put their money into the stock market and risk everything?
Now these employees will have FBT levied on the stock options given to them at about 33% whereas persons who play the stock market will pay no tax or only 10% tax on their gains. This is nonsensical and plain cheating in a democratic society.
Even worse is that he has not looked into the issue of what constitutes residency for the purpose of double tax treaties. As a result, FII's and foreign VC's can invest in the Indian stock market, earn huge profits (as they have!) and pay absolutely no tax, other than negligible FTT.
His approach seems to be, reward the foreigners, reward the stock wallahs, punish the employees. Its a disgrace and shameful!
RE:bad budget
by RED on Feb 28, 2007 08:41 PM
Hi, U must understand the amount of shares these politicians are holding. Will they damage their own wealth? no way. Honestly FM has justified his job to his fellow MP's.
RE:bad budget
by somin wani on Feb 28, 2007 08:31 PM
You forgot to mention the private business people who do transactions in cash and never pay tax on that. we salaried people have to pay full 30% plus the surcharge. even with a salary of 50000 a person gets less then 30000 in hand after the taxes and other deductions. salaried person tax rate should have been reduced to 20-25%
RE:RE:bad budget
by Confused on Feb 28, 2007 08:36 PM
my friend earns lakhs and pays nothing.. i barely can manage my home but have to pay the income tax... fuck this PM FM they are paltu kutta of the madam...
I do not know why the FM is adement in not reducing the Senior citizen category to 60 years for Income Tax purposes inspite of the fact the Railways and somany other Central Govt services have already follow this.There was a representation to this effect but the FM seems to be not bothered about this.
