WHAT ABOUT AMENDING THE PAYMENT OG GRATUITY ACT BY RAISING THE CEILING FROM RS. 3.50 LAKHS TO RS. 10.00 LAKHS WHICH WILL BE OF MUCH HELPFUL TO THE EMPLOYEES WORKING IN PRIVATE SECTOR.
It is a blunder not to give any tax benefit to those with income less than Rs.3,00,000. This class of tax-payers should put forth their views to the FM. In fact, this class has been worst hit in these inflationary times. At least the FM should make a correction now.
Re: Budget 2010: In favour of the salaried class
by kiran kumar on Mar 04, 2010 03:08 PM
The target was never to beat inflation, all indicators are showing that inflation will be under control within 2-3 months, but the budget is for 12 months. FM couldnt afford to keep people pleased for 2-3 months and lose out an opportunity of growth. You never know what would be the world outlook by next budget. Person earning 3,00,000 (after all tax benefits like 80C, HRA etc) is anyway paying 14000 any exemption would put about additional 1000 in his pocket, which anyway would not be of much help, moreover every one in the country (except very poor) should start making a habit of contributing towards nation. This will make them more responsible citizens and make them think twice before creating nonsense in the society, like spitting on the roads, calling for bandh, damaging down the public property etc
Re: Re: Budget 2010: In favour of the salaried class
by Arvind Gupta on Mar 04, 2010 03:52 PM
It looks that you are the person earning the handsome pay not less than 8-10 lacs pa and getting a good amount of tax benefit hance you are not bothered about the lower middle class who already suffering maximum by the high inflation. why there is a tax benefit to the higher class of people for which u appears to be happy. I think U are not a idiot and U can understand why the lower class people should not get the tax benefit. Regards. Arvind Gupta
Re: Budget 2010: In favour of the salaried class
by sk ms on Mar 04, 2010 04:19 PM
The 20K infrastructure bonds are for all right ? If 3 lakh salary tax payer invest in the bond then he shoudl get a tax benefit of Rs 2000 at 10% tax rate? why is this not considered in the table
ATTENTION SALARIED CLASS, YOU ARE TAKEN FOR A RIDE: What sin the salaried class citizens (with income slab upto Rs.3,00,000) have done that they are not getting any tax savings. Whereas persons with higher slabs Rs.4,00,000 get a savings of Rs.10,300 and Rs.5,00,000 get Rs.20,600 benefit etc. Those with more income and can afford to save more under S.80-C and pay more tax are conferred with benefits whereas with low income and could not afford more by way of tax are not given any benefits. This shows the flawed policies of the Govt. to penalize people with low income slabs and exact maximum out of them. It would have been better if the FM introduced a lower tax rate of 5% for income slab upto Rs,3,00,000.
Re: BEWARE OF THE FLAWED PROPOSAL IN THE BUDGET:
by Argumentative Indian on Mar 04, 2010 11:45 AM
Increased money in the hands of the already well paid, coupled with fuel price hike, will help to significantly push up the prices of basic commodities, especially packaged food items. Thus the section earning less than or equal to Rs. 3 lacs per annum shall be hit further due to increased food prices. For a small family with a monthly income of around Rs. 50,000, the basic food prices are too small an amount to bother about increases in their price, too much.
What in favour of Salaried class Mr. Anil Rego?Do not try to count chawani/athani.You have put a big Danda on every hole of Salaried class person's body.This government is a big rog. You will find this price rise will be a biggest scandle in the history of India.Don't you think the amount spend due to price rise by salaried person is many times as against relif given in IT.
This budget brought no benefit for the middle class. How one can defined middle class? Can you consider a family earns more than 6 lac per annum is a middle class family? Not at all. Middle class family is that earns 3 lac per annum. And friends there is nothing in the budget for those who earns 3 lac per annum and really a middle class.
Maximum salaried class fall in the catagory of having taxable salary below Rs.300,000/- forwhom there is no rebate in the budget and there is certainly benefits for the employees having salary more than Rs.300,000/- whereas due to very high inflation their purchasing power remain at low level. However Govt. employees stand to gain all the ways because they will be awarded by the increased amount of D.A.and inflation has gone high because of heavy arrears and salary hike given by the Govt.So andha bante rewari phir-2 apan ko dey. Regards, Arvind Gupta
I cannot believe a budget which burdens the common man who does not earn enough to pay income tax is a good one. Increase in petro products prices will translate into higher prices for food and other commodities transported by road. Already the common man is finding it difficult to make ends meet. How has this budget improved the lot of the man on the street.
TAX calulator is wrong provided by rediff is wrong it shows Existing Tax Structure first slab limit as 1.5lacs.Its wrong,its actually 1.6lacs.Please change it
