Dear Sir, Tax Exemption Limit is as we understand that the annual amount for earning person need for his/her besic neccessities to survive. This year you may find much more price rise in all of the basic needs just like food, vegitables, cloths, electricity, etc. is much much more than average expences of last 10 - 15 years. You may find this a very common complaint of common Indian. There are so many reasons for the same let us not discuss them here. I am not complaining for the same too.
Here I want to say that looking at the senario of the whole market of consumables, common man's earning : "THIS IS MUST TO INCREASE TAX EXEMPTION LIMIT UPTO A REMARKABLE LEVEL."
This is not my alone request but whole country's common man's request to you SIR.
Dear Sir, Tax Exemption Limit is as we understand that the annual amount for earning person need for his/her besic neccessities to survive. This year you may find much more price rise in all of the basic needs just like food, vegitables, cloths, electricity, etc. is much much more than average expences of last 10 - 15 years. You may find this a very common complaint of common Indian. There are so many reasons for the same let us not discuss them here. I am not complaining for the same too.
Here I want to say that looking at the senario of the whole market of consumables, common man's earning : "THIS IS MUST TO INCREASE TAX EXEMPTION LIMIT UPTO A REMARKABLE LEVEL."
This is not my alone request but whole country's common man's request to you SIR.
Dear Sir, Tax Exemption Limit is as we understand that the annual amount for earning person need for his/her besic neccessities to survive. This year you may find much more price rise in all of the basic needs just like food, vegitables, cloths, electricity, etc. is much much more than average expences of last 10 - 15 years. You may find this a very common complaint of common Indian. There are so many reasons for the same let us not discuss them here. I am not complaining for the same too.
Here I want to say that looking at the senario of the whole market of consumables, common man's earning : "THIS IS MUST TO INCREASE TAX EXEMPTION LIMIT UPTO A REMARKABLE LEVEL."
This is not my alone request but whole country's common man's request to you SIR.
Dear Sir, Tax Exemption Limit is as we understand that the annual amount for earning person need for his/her besic neccessities to survive. This year you may find much more price rise in all of the basic needs just like food, vegitables, cloths, electricity, etc. is much much more than average expences of last 10 - 15 years. You may find this a very common complaint of common Indian. There are so many reasons for the same let us not discuss them here. I am not complaining for the same too.
Here I want to say that looking at the senario of the whole market of consumables, common man's earning : "THIS IS MUST TO INCREASE TAX EXEMPTION LIMIT UPTO A REMARKABLE LEVEL."
This is not my alone request but whole country's common man's request to you SIR.
Age limit 65 years of age to qualify for availing of tax exemption upto 2.40 lacs should be withdrawn as all the retirees after 60 years of age face the same heat of the market like 65 years of age. I would like to request the honbl'e finance minister to consider the request and give relief to the all senior citizens above 60 years of age and abolish the age barrier of 65. Than y0u sir.
Few thoughts:- 1) Most people will not grudge a reasonable tax. 2) When tax is collected, there has to be some tangible benefit for the Tax payer. May be life insurance, Medical insurance, old age pension. A person who has paid IT for say 35o to 40 years is left to fend for himself once he retires (except the employees of PSUs, Banks and Govt). What is the Govt giving in return? 3) The IT exemption limit should be reasonable and should be linked to Retail prices of commodities. 4) A Transparent-assessment of the way the money has been used.
All these are wishful thinking. It can be said with certainty that the Govt will do such things.
Few thoughts:- 1) Most people will not grudge a reasonable tax. 2) When tax is collected, there has to be some tangible benefit for the Tax payer. May be life insurance, Medical insurance, old age pension. A person who has paid IT for say 35o to 40 years is left to fend for himself once he retires (except the employees of PSUs, Banks and Govt). What is the Govt giving in return? 3) The IT exemption limit should be reasonable and should be linked to Retail prices of commodities. 4) A Transparent-assessment of the way the money has been used.
All these are wishful thinking. It can be said with certainty that the Govt will do such things.
This is high time that the inequality of tax should be reduced. The consideration of number of dependents are required for tax accessment. This will give one more reason to continue on joint family structure which is the backbone of Indian culture. This will also arm the citizen to fight the HUGE inflation in INDIA. At the same time it will reduce some amount of stress from the families where both husband and wife are forced to work for betterment for their parents and children. Please see towards the developed world and in addition to capitalism also take clue from tax policies which give concessions for an earning member with dependents on him/her.
Considering the high inflation rates all the slab rates should be moved further up.
These slabs dont do any good. Also 35% on the higher side is too much a slab irrespective of how much an individual is earning. This is what leads to a lot of malpractices from Individuals there by resulting in a greater loss of revenue to the Govt.
30% I guess is a decent percentage and at the same time Individuals also should support it.
PLS SPARE THE COMMON MIDDLE CLASS INDIVIDUAL / EMPLOYEE OF SOME ROBBING OF TAXES AND ROB those who have more to offer.
Please make income tax act simpler n taxing on income sholud be minimum as govt is implementing gst personal income tax should be actually abolished but as such govt is in no mood to do this they should minimise it to it lowest it can. sir kindly on behalf of people of india u should stand for this to be done as otherwise there is double , triple taxation which indirectly effects pockects of major part of people n inflation also. personal tax should be as : upto 500000 - nil upto 2500000 - 10 % above that - 20 %
and sir please kindly take note of short term and long term capital gain tax which should be reduced to a maximum of 5% only
if income tax system is made simpler and tax structure to its minimum ther would be a huge turnout in number of it return which will indirectly push r gdp and clear lock houses of blac money n give our country a true picture of finances which hav manyfold effects on the economy of our nation.
one more thing sir the inspector raaj should also be abolished and no scruting or survey or raid should be allowed as it attracts cooruption in the system allow self assesment by increasing tax structure n pressing on gst so as to kick out black money
