1. Driving down the road you are suddenly shoved around by a convey of Cars; Siren glaring & Lights Flashing & being gestured to you rudely to get out of the way for a supposedly VVIP. How does it feel to be paying Taxes for the expenses of this Person who has no regard or respect for you. 2. Oil Companies keep crying over losses on Sales of Fuels. Has anybody ever gone into their Overheads to find out the expenses & calculate their legitimate costs? 3. Our government says that peak Income Tax of 30.9% is low as compared to other Countries. Do you know that the slab at which this rate is applicable is probably the lowest when compared to the slabs when higher tax rates are applicable in those Countries (Keeping in mind the Purchase Power Parity of the Rupee). 4. For every Rupee we earn (as Salary) we end up paying Taxes as : 1. Avg. 24% Income Tax. 2. Avg. 8% Excise on items we normally purchase. 3. Avg. 6% as VAT. 4. Avg. 6% as Service Tax. 5. Avg. 4-6% other Taxes. So we end up paying more then 50% of what we earn to the government & this holds true for most people. Are we getting the 50% of effort we put in our work as facilties which reflect that all Taxes are being put to legitimate expenses?
RE:Where are our Taxes going?
by asif khan on Mar 02, 2007 05:08 PM Permalink
Instead Govt should keep a check on corrupt politician,lot of money will go to Govt.
RE:RE:Where are our Taxes going?
by My Views on Mar 02, 2007 05:17 PM Permalink
I guess the strength not only should be shown on road but also we all should pledge that we will go for casting votes and make sure that this goverment is rooted out. We normally have the tendency to what was done to us last year. We should never forget that in our life and never allow such useless, f*****g, people to power. I had never voted, but today I have taken the pledge to execute my voting right and throw out such people from power.
RE:RE:Where are our Taxes going?
by peter Kirubagaran on Mar 02, 2007 04:27 PM Permalink
What Sumeet is telling 200% correct. Apart from our income tax we pay, we pay taxes for our daily eatables, entertainment, service tax for all bank related transactions, etc.... Keep on going.
RE:Where are our Taxes going?
by Rohit on Mar 02, 2007 09:13 PM Permalink
How can India's Govt revenues be 20% of National Income, but taxes somehow be 50% of income? Please don't further publicize your ignorance.
In your desire to whine, your calculation ingnored the Rs 22/cylinder subsidy on cooking gas, 85 Paise subsidy on kerosense, the Rs 25,000 crore food subsidy and your heavily subsidized college education.
In your simple-minded world view, these subsidies are your birth right and should be financed by the FM's good looks and winning ways.
RE:Where are our Taxes going?
by rahul on Mar 02, 2007 04:52 PM Permalink
I strongly agree with you and i appreciate your calculation.At the same time, we middle class/salaried are the scapegoats in India.We need to raise our voice else bear the brunt by FM.
RE:RE:Where are our Taxes going?
by vikash anand on Mar 02, 2007 05:10 PM Permalink
I feel that there is a need for en-masse movement to remove this government from power and bring in a stable and sensible government. What has this gov done other than increasing taxes, inflation, bank rates, property prices, gold prices, fuel etc....this is absolutely a worthless government
