Can Any body give details of how much tax does each politicians pay???? if u can do something for common man do the following 1.Persons with annual income less than Rs.5,00,000 to be exempt from income tax and 2.Flat rate of 10% income tax there after.
Can Any body give details of how much tax does each politicians pay???? if u can do something for common man do the following 1.Persons with annual income less than Rs.5,00,000 to be exempt from income tax and 2.Flat rate of 10% income tax there after.
Can Any body give details of how much tax does each politicians pay???? if u can do something for common man do the following 1.Persons with annual income less than Rs.5,00,000 to be exempt from income tax and 2.Flat rate of 10% income tax there after.
Common man in india has to work very hard to get his day to day living necessities fulfill. and even after working very hard he is not able to save anything for his family nor for his own future so if the tax slabs can be changed from 160000/- to 500000/- i think there will be many people who wud be able to save atleast some part of their earning. i dnt know if i m rite or wrong but this is my personal exp. i earn 600000/- per year but i dnt have any savings my self after investing around 100000/- and inspite of having a home loan i still have to pay 45000/- tax a year i mean if some one earning like me is in such situation what about those who are earning around half of wht i m earning ????
Common man in india has to work very hard to get his day to day living necessities fulfill. and even after working very hard he is not able to save anything for his family nor for his own future so if the tax slabs can be changed from 160000/- to 500000/- i think there will be many people who wud be able to save atleast some part of their earning. i dnt know if i m rite or wrong but this is my personal exp. i earn 600000/- per year but i dnt have any savings my self after investing around 100000/- and inspite of having a home loan i still have to pay 45000/- tax a year i mean if some one earning like me is in such situation what about those who are earning around half of wht i m earning ????
first, arrange to collect money from all swissbank accounts. this will be sufficient to provide FULL tax relief to citizens of India and reduce fiscal deficit as well !
What would be good to see is a rationalization of income tax rates. Why can't we move away from the regime of tax-slabs, tax-exemptions and tax-rebates, and instead move to a simplified taxation system with the following basic rules -
1. Flat rate of 10% income tax 2. Persons with annual income less than Rs.2,00,000 to be exempt from income tax 3. Persons with annual income greater than Rs.10,00,000 to be levied 10% surcharge on income tax
This simplified regime would have several significant benefits -
1. Much less paper-work... no proof-submission for investments, bills/receipts etc. 2. Much less calculations involved... therefore, almost no room for errors. And most importantly, much less effort and cost for the government and for individuals 3. But what can be expected as the most significant benefit is that, this simplified structure would encourage many more income earners to file tax returns
Imagine how big government's tax kitty would grow with this simple measure and how the cost of administration of Income Tax would come down crashing. It would be heartening to see the Finance Minister to seriously consider this suggestion and earnestly work in this direction.
kindly give more tax relief to salaried class as they are the only people having all white income and cant hide any income. The actual salary of any salaried employee is his salary minus 20-305 (tax). Kinly let tax benefits on ppf and elss stay as these are the only investments where a salaried person can hope to get good tax free returns. Also please let stt continue and dont impose capital gains tax on mutual funds atleast as all this will hit the common man .i.e, the aam aadmi.
kindly give more tax relief to salaried class as they are the only people having all white income and cant hide any income. The actual salary of any salaried employee is his salary minus 20-305 (tax). Kinly let tax benefits on ppf and elss stay as these are the only investments where a salaried person can hope to get good tax free returns. Also please let stt continue and dont impose capital gains tax on mutual funds atleast as all this will hit the common man .i.e, the aam aadmi.
