Given the recent spike in inflation and low wage hikes, the minimum slab needs to be increased. Also, please make sure the new direct tax code is implemented by April 2011.
- Abolish income tax and disband the CBDT. Income tax is the zenith of evil and immorality and illegal as well. It’s a cruel system which punishes good and penalizes ability. Only a depraved society can tolerate a reprehensible, and despicable thing called income tax. Government has no business to indulge in any economic activity thus trampling the individual rights. Government should get out of all forms of production i.e. it has no right to run railways, state transports, airlines, hotels, mills, steel plants and any industrial or commercial activity. It’s abominable to do so and illegal as well.
Scrap MRTP, FEMA, COFEPOSA and host of other economic laws which has done more harm than all the jihadis put together.
Given the recent spike in inflation and low wage hikes, the minimum slab needs to be increased. Also, please make sure the new direct tax code is implemented by April 2011.
1) Pl. exempt the pension received by retired persons from Income tax 2) Please exempt fron income tax the interest received from the Senior citizen pension scheme. The tax received by the givernment is very small but it will make adifference to old retired people who have to face growing inflation in essential commodities.
In our country salaried people are taxed without even understaning need of people at the lower end of taxable income. The cost of living in metro is high and with spurt in prices all round it has become difficult to save anything from monthly salary. For a family of four average expense works out around Rs. 25000/-. The annual expense works out to be Rs.300000/-, but anything above Rs. 150000/- is taxed.
Therefore Finance Minister should understand the ground realty and then fix income tax slab at lower level of income.In metro cities like Mumbai where cost of living is very high, tax slab should start from Rs.300000/- at lower level because in private sector in small companies salaries have not increased in last two years and expenses have increased and there is little hope for salaries to go up, The government has mercy for very rich people and for poor people but lower middle class is left alone to fend for itself.
Re: Income tax on salaried
by ankur GUPTA on Feb 02, 2010 01:09 PM Permalink
I fully agree with you, since the food inflation is staying close to 20%. The expenses will increase further.
In our country salaried people are taxed without even understaning need of people at the lower end of taxable income. The cost of living in metro is high and with spurt in prices all round it has become difficult to save anything from monthly salary. For a family of four average expense works out around Rs. 25000/-. The annual expense works out to be Rs.300000/-, but anything above Rs. 150000/- is taxed.
Therefore Finance Minister should understand the ground realty and then fix income tax slab at lower level of income.In metro cities like Mumbai where cost of living is very high, tax slab should start from Rs.300000/- at lower level because in private sector in small companies salaries have not increased in last two years and expenses have increased and there is little hope for salaries to go up, The government has mercy for very rich people and for poor people but lower middle class is left alone to fend for itself.
Simplify Income tax act.Educate the officers properly.There should be accountability clause to save assesses from unreasonable additions and to generate confidence amongest them.
