Take a local grocer in a city.. most ones a average profilt of Rs.3000 to 5000 a day but about pays Rs.3000 as tax (thru Saral) at the end of the year.. hardly 1day earning in a year..
None of the items he sources are with bills, and he doesn't sell with bill either.. every penny he makes is black.. Sales Tax, VAT and everything else he conveniently passes on to the consumer.. who not only pays Income Tax but also these other taxes..
Take a middle salaried class person, he pays 33% tax, which is essentially 10 days per month and 120 days year..
so a salaried class person pays atleast 120 times the tax of a local businessman..
A local business man will have a shop, a couple of houses in his name but a salaried class one will be struggling to pay the rent..
If a grocer can make so much, think out the bigger ones..
Re: tax the businessmen.. please
by Amit Saraf on Feb 28, 2011 07:36 PM
how a salaried class pays 33%
for income till 920000 PA and after giving effect to deduction of 120000 (100000 20000) net tax payable is 94000/- i.e. slightly above 10% of the earnings.
Don't be jealous! be risk taking enough to become a businessman. Entrepreneur creates value, provides jobs, sometimes innovation and growth.
Re: Re: tax the businessmen.. please
by Hmm on Feb 28, 2011 10:32 PM
that is a good one.. strictly not 33% but many more times than a salaried person.. Risk taking and cheating tax are two different things.. everyone has a skill and it is unfair to ask everyone to pick a job based on tax he/she can cheat..
Re: tax the businessmen.. please
by Amit Saraf on Feb 28, 2011 07:32 PM
If that is the case you always have the choice to become entrepreneurs. It takes a lot to become a successful entrepreneur (big/small). Why are you feeling jealous?
Re: Re: tax the businessmen.. please
by Hmm on Feb 28, 2011 10:19 PM
that is funny.. I would not make a career choice based on how much I can cheat the government..moreover just because it takes a lot to become a entrepreneur, it doesn't mean I am entitled to cheat tax..
I will do what I am good at doing..and I expect the country to treat me fairly..
Re: Re: tax the businessmen.. please
by Hmm on Feb 28, 2011 10:18 PM
that is funny.. I would not make a career choice based on how much I can cheat the government..moreover just because it takes a lot to become a entrepreneur, it doesn't mean I am entitled to cheat tax..
I will do what I am good at doing..and I expect the country to treat me fairly..
u guys r screaming for higher IT exemption limit ! how the loss in tax revenue will be made up? ok.. so here the question is why does the govt need so much tax revenue? who is going to finance the white elephants of this country? the NREGAs, the rojgar guarantees, the fuel subsidies, the sops in the railway budget ( to save mamata's skin), the 6th pay comission largesse, the agri loan write offs ,and above all the bribes and doles to be paid in the maoist areas? so folks if u want less taxes please first fight against the subsidy and dole raj !
Re: subsidy and dole raj !
by Kailash Ved on Feb 28, 2011 04:05 PM
All this can be managed by containing the corruption of the big leaders and preventing scams like that of 2G.The extravagance of th the leaders too needs to be checked. Sweeping the Income TAX from the salaries persons only is not the way as th business men are able to hide their income and the salaries persons only are compelled to pay their earnings.
Re: subsidy and dole raj !
by Kailash Ved on Feb 28, 2011 04:04 PM
All this can be managed by containing the corruption of the big leaders and preventing scams like that of 2G.The extravagance of th the leaders too needs to be checked. Sweeping the Income TAX from the salaries persons only is not the way as th business men are able to hide their income and the salaries persons only are compelled to pay their earnings.
GST is another agenda of the globalist, which the WorldBank's economic-hit-man-for-India MMS calls as reforms!! It cannot get any funnier! Aam admi cannot get any dumber!!
Moral of budget is as it is . keep poor poor don't control inflation additional punishment give tax insteed of higher living cost MAHANGAEE. RICHER SHOULD NOT WORRY BUT POOR THINK HOW TO SURVIVE . HWERE IS HUMANITY HUMAN RIGHT COMETTEE.
Re: moral
by sanjay bhatia on Feb 28, 2011 03:53 PM
Why should rich suffer because of poor people in this country. If poor peoples lives cannot be improved let them die. They will be happier with the God. Congress ki Jai hod for opening our eyes.
Guess by raising the exemption limit, he is only securing his and MMS's future. Oldies who i dont think can make a comeback next term. Its the youngsters who need more exemption. With due respects to the oldies, the government does not pay them enough to even reach the 5 lac mark. God knows who these grey headed bufoons (PM and MMS) are fooling. 20K is a pittance. Shove it up your ...
Guess by raising the exemption limit, he is only securing his and MMS's future. Oldies who i dont think can make a comeback next term. Its the youngsters who need more exemption. With due respects to the oldies, the government does not pay them enough to even reach the 5 lac mark. God knows who these grey headed bufoons (PM and MMS) are fooling. 20K is a pittance. Shove it up your ...
Re: expand the tax base...
by Ram on Feb 28, 2011 03:43 PM
Please suggest on where and how business men are evading taxes. He can include them as well.
Re: Re: expand the tax base...
by Hmm on Feb 28, 2011 03:58 PM
Take a local grocer in a city.. most ones a average profilt of Rs.3000 to 5000 a day but about pays Rs.3000 as tax (thru Saral) at the end of the year.. hardly 1day earning in a year..
None of the items he sources are with bills, and he doesn't sell with bill either.. every penny he makes is black.. Sales Tax, VAT and everything else he conveniently passes on to the consumer.. who not only pays Income Tax but also these other taxes..
Take a middle salaried class person, he pays 33% tax, which is essentially 10 days per month and 120 days year..
so a salaried class person pays atleast 120 times the tax of a local businessman..
A local business man will have a shop, a couple of houses in his name but a salaried class one will be struggling to pay the rent..
If a grocer can make so much, think out the bigger ones..
Re: Re: Re: expand the tax base...
by Paul Rufus on Feb 28, 2011 04:08 PM
Dear, I can understand ur point but let me tell u grass is always greener on the otherside. First these days doing business is no joke, with sky high rentals and compitition, the margins has dried up. So called salaried class govt employess ( Income tax, vat, labour, esi, corporation, weight and measure and what not ) are always on ur neck demanding money. U cannot simply comply with the rules laid by any these agencies. Salaried class can call what ever money they get, their own but not a medium size business man.
The poverty line should be pushed up to cover those having monthly income upto Rs.15000 so that they are not only exempted from income-tax but also can avail all sops for those BPL.
