It is suggested to include all in the incometax but tghe rates should be rational and not at the present rates of taxation. This will develop a sense of contribution to each earning citizen of India. The rates should be 5% upto 3lacks, 10% upto 5lacko,15% upto 10lacs, 20% upto 15lacks, 25% upto 20lacs and 30% above 20lacs.The GOI should strictly take taxes from the prtty traders and shopkeepers who ae the main source for black money in the country. To avoid the corruption & black money in the society,if any was is found involved-heshould be punished severly and his all wealth should be consificated by the Central govt to detor others from such antinational activities. The terorists and corupt should be dealt at the same level-both are carrying out antinational activity. .
instead of income tax being paid by individuals, for salaried class it should be made payable by the companies just like dividend tax and the tax rate should be 15 percent on the total salaries paid. so that salaried class can afford to save some money towards edcuation of children, medicals, healthcare and own dwelling place.
The fear is that inflation will turn into hyper-inflation if proper reforms are not taken, and till the time that the inflation is brought back under control the taxable income limit for individuals should be increased from 160000/- to 200000/- atleast. People as it is are fighting for surplus money.
instead of income tax being paid by individuals, for salaried class it should be made payable by the companies just like dividend tax and the tax rate should be 15 percent on the total salaries paid. so that salaried class can afford to save some money towards edcuation of children, medicals, healthcare and own dwelling place.
The fear is that inflation will turn into hyper-inflation if proper reforms are not taken, and till the time that the inflation is brought back under control the taxable income limit for individuals should be increased from 160000/- to 200000/- atleast. People as it is are fighting for surplus money.
Sir The income tax act contains lots of sections which are quite inappropriate with the passage of time. Like the section 10(13) for transport @800/- p.m. ? In metro cities like Delhi esp. this is not justificable. so this needs to be at par with the actual realities i,e. 2000/- p.m. at least a month. Then Children education allowance per month is 100/- per child u can correct that too. HRA also is to be realistic coz the rent rates are very high. Apart the income tax slab presently is 1.60 Lacs for men. It means hardly 13K per month ....but the reality is that living in a metro city needs 20K per month to sustain.....i dont have any more unreasonable demands.....
sir, please give attention on employee for salary limit. minimum salary should be 6000 p.m in small company. like retail, dealers, etc.6000 p.m for delivery boy, 7000 to 10000 sales marketing accounts. thanking you.
Hon'ble FM We like to draw your kind attention for offloading the jobs at various Revenue generating deptt. such Excise,service tax, custom and sales tax and others to qualified professionals such as CA,CMA & CS for certification of various laibility and Returns and assisting in Final assessment and scrutiny of the case. This may be quarterly affairs so that more accuracy achieved rather than Annual affairs.
Regards Request made by a Practicing Cost & Management Accountant
