The common man with an income upto 3 lakhs per may have a moped or motor cycle. He has to pay the increased petrol price and no tax concession. The 10 lakhs per year man is getting a tax rebate of over 50,000/- and the petrol price hike is not his concern since he must be having a car at his employers cost. What a beautiful budget !!!!
Re: Double burden
by kiran kumar on Mar 01, 2010 02:36 PM
You wouldnt have said this, if you had seen tax clauses in the proposed direct tax code. All these benefits are going to be clubbed with income and then tax is calculated. It is just a matter of 1 year, before this lower band of higher middle class are going to cry foul.
Re: Double burden
by Suresh J on Mar 01, 2010 02:23 AM
Are you crazy. The 10,00,000 guy pays more taxes anyway. Its just he is now handed some extra money to fund the economy. With the Rs.4000 , the govt expects this group to buy some stuff, that will encourage manufacturing industry and there by, they will hire more people to produce more. These guys who got the job are the ones who are earning 3lakhs. So by putting more money in a 10lakhs guys pocket , Pranab has created more job for the 3lakhs salaried class. Classic case of economy 101. I earn more than 10lakh and i am yet to see a car at employers cost. Even if some one gets one, he is going to pay more for the same distance you and him travel. This guy who earns more than 10lakhs, go there thru his hard work and education. So he is reaping the benefit. What is your problem here.
The common man whose income is from Rs. 1.6 lakhs to 3.0 lakhs does not have any relaxation. At the same time, the highly paid with 10 lakhs per year is getting a relaxation over Rs 50,000/-. So whom the FM is giving concessions? Poor or rich ?
Re: Who is the beneficiary of Income tax concessions ?
by yash kumar on Feb 28, 2010 11:14 PM
Higher income people pay more taxes also, so it is gud that they got some relaxation from the Govt this time
Re: Who is the beneficiary of Income tax concessions ?
by Suresh J on Mar 01, 2010 02:28 AM
Kutty, like i said, in a previous message, by putting more money in a 10lakh earning guy, pranab is creating more employment. Isn't that a case to feel happy about. If the slab for no tax is raised to 3lakh , the 10lakh guy still gets more money in his pocket. Unless you want these high income class to be penalised with more tax. If that is the case, then no new jobs will be created, as what ever they earn, they will save it and not spend it. So no buying. No buying, then reduced producted to meet reduced demand. Reduced production means reduced requirement for employees and workers. This means job loss. So to raise more money in your pocket , you are ready to throw some people out of work. So SELFISH.
Re: Who is the beneficiary of Income tax concessions ?
by yash kumar on Feb 28, 2010 11:13 PM
Higher income people pay more taxes also, so it is gud that they got some relaxation from the Govt this time
Re: Who is the beneficiary of Income tax concessions ?
by yash kumar on Feb 28, 2010 11:15 PM
Higher income people pay more taxes also, so it is gud that they got some relaxation from the Govt this time
A lot of relief and concessions have been granted in this budget which has been possible mainly due to increase in duties and taxes on oil. In my personal opinion, from the general consumer's point of view, increase in 'indirect' taxes and duties on such mass consumption item like petrol and diesel and using the consequential revenue for providing 'direct' tax relief and other developmental measures, is generally a better way of handling situation. This sounds a slightly selfish since for the people outside the Direct tax net, this only means an increase in cost, though of insignificant amount. However for those in the Tax net, this would always mean a net benefit. Further, the costs of developmental activities (particularly those on social welfare, etc.) is shared by large mass of people through such huge mass consumption item like, oil. This is indeed the right approach. Thanks, FM.
A lot of relief and concessions have been granted in this budget which has been possible mainly due to increase in duties and taxes on oil. In my personal opinion, from the general consumer's point of view, increase in 'indirect' taxes and duties on such mass consumption item like petrol and diesel and using the consequential revenue for providing 'direct' tax relief and other developmental measures, is generally a better way of handling situation. This sounds a slightly selfish since for the people outside the Direct tax net, there only means a increase in cost, though of insignificant amount. However for those in the Tax net, there only means a net benefit. Further the costs of develeopmental activities (particularly those on social welfare, etc.) is shared by large mass of people through such huge mass consumption itme like, oil. This is indeed the right approach. Thanks, FM.
People in salary range 1.60 lk to 3 lk got nothing, means low class and middle class peoples are fooled by govt. Only people getting higher salary got relaxation.
Long time isvestments in infrastructure and similar bonds as a means of tax savng is an outright fraud on income tax payers in the long run. You may invest 20,000 and save tax of 2000. After three years youmay get a paltry 22000, which by that time can buy for your only half as much as your original 20000 could, due to inflation. Only fools will make such investments.
Re: Option for Aam Admi
by Anand Bhushan on Feb 27, 2010 12:48 PM
Suicide is not eonugh Aam Admi should try to do his best.When U are going to Suicide U can destory the main cause of evil. So plz destroy the satta bazar before suicide.
