Taxes were invented to take from the rich and help the poor survive . The tax focus now seems to have to be take from the poor and fill the deep pockets of the rich and the Politicos.We seem to see daily scams not in the lacs but thousands of crores. Please dont tell me that Indians are such fools that the tracking of such huge amounts cannot be done. If a salaried or middle class person buys more than 2lakhs in FD's , buy a bigger car for our family or take an international holiday we get a notice of proof of fiunds from the Income tax. When the ownwer of DB kept flying to Dubai (in his private jet )was the Govt sleeping. Frankly we first need to make it mandatory for all voters to be at least metric pass before authorizing them to vote. Secondly ot sould be made mandatory for all poitictions to have a degree or some qualification to occupy a certain post in the govt. Please note being of Political Lineage does note have an auto qualification and thirdly we need to have a retirement age of 60 years for all politicos. WE SHOULD HAVE A YOUNG LEADER AS WE ARE A YOUNG NATION ( no offence to Dr Singh he is a great man but as an advisor)
Truth is Indian Public is chor and corrupt don't give then any tax exemption. Percentage of people paying income tax in India is 0.8% of the total population rest all 90% Indians show there annual income below tax lemit.Truth is that 90% of common man Indians don’t pay correct Income Tax.My Uncle is running a Mom & Pop Store in Tier II city, i know very well how much he earns and how much he pay tax My Uncle earns 20000 to 25000 per day but pay zero tax.
Pranab Mukherjee is the person who helped extremely to Reliance during 80s by modifying lots of laws to suit them by reducing import duties and likewise. How he can levy taxes on these super riches who pay him.
Just stop wasting on annual basis India's wealth on defence purchases worth crores, which helps other countries grow richer. Imagine the crores we save that could be invested wisely on developing India's infrastructure.
Re: New method to generate revenue
by Popatlaal Mirchikhake on Feb 15, 2011 12:18 PM
Dude, solution is not stoping defence purchases but increasing our defence sales. We don't want to be sleeping, like in 1962 when China attacked India.
Why one should pay income tax, what he gets out of it, not even a respect, in case of even scrutiny he is shed some money plus harrassment, no income tax payer even gets a proper seat while waiting in Income Tax deptt. Regarding usage of our money, govt. is befooling people to spend major money on poors, still their numbers are incrasing manifold, we are listening it from the last 60 years no relieve in coming 600 years, as such infrastructural development will never reach to optimum level. Payment of Income Tax is a dacoity by Govt. with individuals without even any social gain.
Re: Paying IT
by True Voice on Feb 15, 2011 12:23 PM
Please go to forest and live with tribals who dont pay taxes. You want to enjoy all infrastructure, public distribution system, roads etc etc and dont want to pay for it. No tax in emirates becasue they have huge inflow of money thru oil. Tell me what product or service brings such a huge inflow to cater 1 billion? They are somany poor and BPL whom govt has to support. We all are bound to pay for it as long as we live here
Re: Re: Paying IT
by arungopal agarwal on Feb 15, 2011 12:27 PM
If you think so let everyone be communist like China or Russia,but system has failed there too. My question is why unwanted population is not curbed.
Income Tax slabs are higher in India comparatively other developing countries, rationalizing the tax structure is needed, this issue was under discussion for somany years. Now after reforms it is necessary to rationalize the tax slabs, lower the tax rates more the collection people will offer volunterly the taxes. In India due to higher tax slabs more evasion of taxes are taking place and by this black money is mounting, due to higher rate of taxes these things are happening.Only salaried people only contibuting the taxes to the government with out evading,Business community in India mostly tries to avoid the taxes because higher slab rates. 30% tax slab for corporate is there for so many years no government is taken care to reduce it now it is time when we are going for direct tax code all the tax slabs should be reduced. Even Central Excise duty is also very high small enterpreneurs are suffering with this, past five budgets nothing has done for small scale sectgor, atleast now they should rise the exemption limit from existing 1.50 cores to 3 crores so that smal scale industry will flarish. Government should take care of salaried people in this budge exeption limit should be doubled and tax slabs also should be reduced. reduction in tax slabs will definetely help to improve the collection, more people will contirbute to the government. Black money if found should be taxed 100% and culprit's other assets should be siezed than only this black money menas will go.
Re: Tax Slabs
by Bhupinder Singh on Feb 15, 2011 12:20 PM
u are just asking from rich point of view,, india need to tax whole people and allow poor to upgrand their skill,for earning more and break up their poverty level, by the way rich never pay tax,,only socalled babu who create lot of cry middleclass,,we should implement work related wages,,in chandigarh,,e samapak,, workers are geting 2000 to 3000 for doing 9 hours month,,babu are geting 25000 just no doing any thing, it is rediculous,,,free competition for all to upgrade their skill and more experiences means more knowledge and depth,,opposite in govt deptt, more commision,more herapheri,,,more manipulation, according to me whole govt system be privatised with human touch,recruiting more people and offering moreexperience of real work culture,,india is worse system in world,,,in west,,majority of enjoy life not work harder,,no saving still rich,,,india is worse, circulation of money is limited to upper and lower middle class , still they day dream of living in first world,,,privatisation are jsut started, changing whole scenerio but our poltiical system have guts to change old nehru rotten system of pension,secure govt job,without not work ethics, customer are fool and babuare master ,,, i rate indian bureacracy, babuism worse than bangle desh,, standard,,,
Income Tax slabs are higher in India comparatively other developing countries, rationalizing the tax structure is needed, this issue was under discussion for somany years. Now after reforms it is necessary to rationalize the tax slabs, lower the tax rates more the collection people will offer volunterly the taxes. In India due to higher tax slabs more evasion of taxes are taking place and by this black money is mounting, due to higher rate of taxes these things are happening.Only salaried people only contibuting the taxes to the government with out evading,Business community in India mostly tries to avoid the taxes because higher slab rates. 30% tax slab for corporate is there for so many years no government is taken care to reduce it now it is time when we are going for direct tax code all the tax slabs should be reduced. Even Central Excise duty is also very high small enterpreneurs are suffering with this, past five budgets nothing has done for small scale sectgor, atleast now they should rise the exemption limit from existing 1.50 cores to 3 crores so that smal scale industry will flarish. Government should take care of salaried people in this budge exeption limit should be doubled and tax slabs also should be reduced. reduction in tax slabs will definetely help to improve the collection, more people will contirbute to the government. Black money if found should be taxed 100% and culprit's other assets should be siezed than only this black money menas will go.
