In our country salaried people are taxed without even understaning need of people at the lower end of taxable income. The cost of living in metro is high and with spurt in prices all round it has become difficult to save anything from monthly salary. For a family of four average expense works out around Rs. 25000/-. The annual expense works out to be Rs.300000/-, but anything above Rs. 150000/- is taxed.
Therefore Finance Minister should understand the ground realty and then fix income tax slab at lower level of income.In metro cities like Mumbai where cost of living is very high, tax slab should start from Rs.300000/- at lower level because in private sector in small companies salaries have not increased in last two years and expenses have increased and there is little hope for salaries to go up, The government has mercy for very rich people and for poor people but lower middle class is left alone to fend for itself.
Re: Income tax on salaried
by ankur GUPTA on Feb 02, 2010 01:09 PM Permalink
I fully agree with you, since the food inflation is staying close to 20%. The expenses will increase further.
