Dear Sir, I am a senior Citizen and was submitting TDs exeption Form 15H. I shall not be able to submit it after 31st March 2011. I shall suffer TDs of aprox Rs 30,000/- on estimated Gross Total Income of Rs 335000/- against NIL tax liability and wait for years for the refund. Can Gov. realise the game it is playing with citizens? does it realise that by withdrawing the facility, it has added extra work load on it without any benifit? Sharad Hatekar
I am working abroad,i am already paying 40% tax on my wages, on top of that 20%vat on eveything i buy or eat. so basically it adds to 60%. If i transfer to India, i have pay service tax and commission to bank for currency exchange. I feel i am paying nearly 70% only on tax for money it reaches India.I see no point in working abroad for sake of saving money.
Hi Its just not we pay on our income, but on everything we use daily. Eg. Food grains,stationery,telephone...etc @ MRP(which is normally inclusive of tax). If a person earns 10lakh per annum, he ends up paying tax of 30%. Just to save tax, the person is forced to invest of Rs.1 lakh on bonds, LIC etc. Out of 1Lakh investment the tax saving is hardly Rs.20000 to 30000. So where is the benefit? To avail Rs.1.5 interest exemption housing loan. The person ends up taking higher loan & higher EMI. Real estate is gone up like anything affording a 2BHK flat is really a challenge with the present day job insecurity.
If the person owns a car, he can get a tax benefit around 10000 to 12000 per annum. But actual maintenance of the car is minimum Rs.5000 per month. Do we really benefit & enjoy this kind of tax exemption by owning car?
By doing all these tax saving hungama, generally we end up having no liquid cash on hand.
If we really spend money on Medicine Rs.15000. We get only 30% tax benefit. !!! At least give full exemption here.
LTA is another head ache. To save some 30% tax we need to avail 2 or 3 days PL. Which is in fact expensive than the tax benefit we really get. On top it, Auto charges are not considered in LTA as no receipt to show. Car bills are not accepted. Hotel bills are not accepted. Only Train, bus and Air tickets are accepted!! Train and bus tickets are not sufficient to get the LTA tax benefit. Air tickets are expensive a
Hi Its just not we pay on our income, but on everything we use daily. Eg. Food grains,stationery,telephone...etc @ MRP(which is normally inclusive of tax). If a person earns 10lakh per annum, he ends up paying tax of 30%. Just to save tax, the person is forced to invest of Rs.1 lakh on bonds, LIC etc. Out of 1Lakh investment the tax saving is hardly Rs.20000 to 30000. So where is the benefit? To avail Rs.1.5 interest exemption housing loan. The person ends up taking higher loan & higher EMI. Real estate is gone up like anything affording a 2BHK flat is really a challenge with the present day job insecurity.
If the person owns a car, he can get a tax benefit around 10000 to 12000 per annum. But actual maintenance of the car is minimum Rs.5000 per month. Do we really benefit & enjoy this kind of tax exemption by owning car?
By doing all these tax saving hungama, generally we end up having no liquid cash on hand.
If we really spend money on Medicine Rs.15000. We get only 30% tax benefit. !!! At least give full exemption here.
LTA is another head ache. To save some 30% tax we need to avail 2 or 3 days PL. Which is in fact expensive than the tax benefit we really get. On top it, Auto charges are not considered in LTA as no receipt to show. Car bills are not accepted. Hotel bills are not accepted. Only Train, bus and Air tickets are accepted!! Train and bus tickets are not sufficient to get the LTA tax benefit. Air tickets are expensive a
Hi Its just not we pay on our income, but on everything we use daily. Eg. Food grains,stationery,telephone...etc @ MRP(which is normally inclusive of tax). If a person earns 10lakh per annum, he ends up paying tax of 30%. Just to save tax, the person is forced to invest of Rs.1 lakh on bonds, LIC etc. Out of 1Lakh investment the tax saving is hardly Rs.20000 to 30000. So where is the benefit? To avail Rs.1.5 interest exemption housing loan. The person ends up taking higher loan & higher EMI. Real estate is gone up like anything affording a 2BHK flat is really a challenge with the present day job insecurity.
If the person owns a car, he can get a tax benefit around 10000 to 12000 per annum. But actual maintenance of the car is minimum Rs.5000 per month. Do we really benefit & enjoy this kind of tax exemption by owning car?
By doing all these tax saving hungama, generally we end up having no liquid cash on hand.
If we really spend money on Medicine Rs.15000. We get only 30% tax benefit. !!! At least give full exemption here.
LTA is another head ache. To save some 30% tax we need to avail 2 or 3 days PL. Which is in fact expensive than the tax benefit we really get. On top it, Auto charges are not considered in LTA as no receipt to show. Car bills are not accepted. Hotel bills are not accepted. Only Train, bus and Air tickets are accepted!! Train and bus tickets are not sufficient to get the LTA tax benefit. Air tickets are expensive a
Hi Its just not we pay on our income, but on everything we use daily. Eg. Food grains,stationery,telephone...etc @ MRP(which is normally inclusive of tax). If a person earns 10lakh per annum, he ends up paying tax of 30%. Just to save tax, the person is forced to invest of Rs.1 lakh on bonds, LIC etc. Out of 1Lakh investment the tax saving is hardly Rs.20000 to 30000. So where is the benefit? To avail Rs.1.5 interest exemption housing loan. The person ends up taking higher loan & higher EMI. Real estate is gone up like anything affording a 2BHK flat is really a challenge with the present day job insecurity.
If the person owns a car, he can get a tax benefit around 10000 to 12000 per annum. But actual maintenance of the car is minimum Rs.5000 per month. Do we really benefit & enjoy this kind of tax exemption by owning car?
By doing all these tax saving hungama, generally we end up having no liquid cash on hand.
If we really spend money on Medicine Rs.15000. We get only 30% tax benefit. !!! At least give full exemption here.
LTA is another head ache. To save some 30% tax we need to avail 2 or 3 days PL. Which is in fact expensive than the tax benefit we really get. On top it, Auto charges are not considered in LTA as no receipt to show. Car bills are not accepted. Hotel bills are not accepted. Only Train, bus and Air tickets are accepted!! Train and bus tickets are not sufficient to get the LTA tax benefit. Air tickets are expensive a
Abolish Tax from individuals and collect all the black money stacked away by politicians and mafias of this country.The money from Swiss and other offshore banks will run this country for many years! Replace currency notes of bigger denomination (We need only coins of i,2,5,10 etc)and make it compulsory for all dealings through bank cheques or Credit Cards.
Why is the government getting trapped in the nitty-gritties of EEE and EET? Why not let the middle-class and the salaried class and people having incomes of less than 30lacs per annum have more tax benefits? As it is, people are heavily taxed indirectly given the costs of fuel, electricity etc. Keep the tax laws simple, let prevailing exemptions continue, and instead focus on making the systems more transparent and less corrupt. Reduce size of government, make the process of awarding and supervising govt. tenders open and transparent, involve more youth on a voluntary-shram-daan basis into the lower levels of governances to make governance better. This is what the people want, and not endless waste of time over EEE v/s EET. Make the middle class happy, aim to increase the per capita post-tax income of the population.
the extension of limits are only to take care of inflation.so there should be automatic correction of limits. today home loan payments eduction cost are so high even after high salary there is a shortfall. for salaried class the rate should be fixed max 20%