The tax exemption should be given to all in order to give a relief for the people who are in middle class and below average class..the tax slabs should start at Rs.3 lacs and be taxed at 10% upto 4 lacs and at 20% thereafter.That will give a lot of people relief...
First of all, I ask the Indian janata.. what is the use of asking the Finance Minister NOW to cut tax rates or raise the tax limit when EVERYTHING has been already fixed by the finance secretaries long back ? Will these kind of posts/ messages really help NOW ? I think it is already too late to even think about what will happen in the Budget. And do you think the FM will ever consider any such suggestion made here on the rediff message board ? I mean does he have time to even read any post ? Rediff, please don't make fool of people by asking such foolish questions, that too at the WRONG time.
RE:Tax Cuts
by Jayaprakash V on Feb 19, 2007 02:42 PM Permalink
You are absolutely right Mr Ajeda, Rediff is making fool of us.After all in India AAM JANATA ki baat kuan suntaa hai? that too at any time. It happens only in India.
Any mature citizen understand that tax revenue directs Govt.towards development which is essential.However a rational taxation policy can sustain development and at the same time look after social need for those who are at the end of their earning stage but contributed immensly towards the development of the country.I intend to direct my views on the senior citizen of the country at a time when the economic and social attitude are either forcing or neglecting the joint fabric of old family structure and the old retired are been left to feed for themself.The Finance inister and the Prime minister will do world of good if they make pension and the interest from inverstment tax free for senior citize at 65yrs and above if they are no actively involved in business or job in profession.These will beniofit milion of old retired people without creating much deficit to the Govt.if one percent tax is raised in Cigaret and alcohol which compenset more than what is lost. Mr Finance Minister please do give a thought.A true social sercvice to those who gave their best when they were able.
India is only the country where we pay tax for each & everything, without getting any benefits. Once if we pay tax from our income, why we need to pay tax on other basic commodities like soaps & toothpastes. Even though the amount is very less, people are paying a huge chunk of money for different commodities. Even though companies are giving pay hike to its employees, indirectly the person will be paying more money in the form of tax. Also prices of the basic ammenties have shot up in such way that middle class (aam admi's) life has become miserable. So the government should take steps to raise tax exemption limits. Or income tax rates be reduced. Its better if the government take some appropriate measures to cut down the inflation rates also.
Why only Bombay should Pay High Amt of tax, and People from Other state enjoy. Like UP. Make an attempt to tell leavy tex on them also. Still the highest %of tax payers are from Bombay why not any other part of state.
RE:Why only Bombay Pay tax
by abhay upadhyay on Feb 19, 2007 02:38 PM Permalink
Dear Parag, Mumbai has highest no of people in higher salary slab.So we are paying maximum income tax.If you think mumbai should pay less tax then big corporate and industrial giant have to shift their offices and factories out of mumbai alolong with mumbai.If you donot want to pay tax then make investments or join an employer who pays you less salary or pays you salary in cash(black money).We pay highest tax amount so we can ask for better infrastructure and services from government,rather than thinking on why others are paying less.Pls do not mind if you donot agree with opinion.
RE:RE:Why only Bombay Pay tax
by Uday Shankar on Feb 19, 2007 03:58 PM Permalink
Dear Parag,
You should be proud of paying more tax. this means many people in Mumbai are earning well and corporates are doing well. This is a chain reaction. Mumbai will get benefits.
Government is projecting growth/infalation & interest rate very well but tax slabs are not projecting very neutral way. Other wise the slab will be automatically higher so that common man can be avoided from the burden of income taxex.
The tax exemption should be given to all in order to give a relief for the people who are in middle class and below average class..the tax slabs should start at Rs.2 lacs and be taxed at 10% upto 3 lacs and at 20% thereafter.That will give a lot of people relief...
I have wondered many times how and why should the salaried person pay so much tax while the ones who own business units pay a meager amount? The so called IT employees are considered to be the rich onses...but when you calculate 1. The Tax that an IT person pays- close to (35%) 2. The Service Tax close one very thing (12.24% on every item which amounts to 10% of ones earning) So finally if you see, we straight away pay close to 50% of our salary as taxes in some form or the other. While i take for example a mechanic near my house..who services around 15 odd bikes a day and makes a net profit of close to 50 grads a month (with no tax liability). So I ask this question.. Is this what we call India shining? or do we say that with all the money that we pay as taxes the people who are poor get three times food, shelter and care free life so that they can keep mating to produce some more off spring and we start supporting their off spring as well?? Where are we heading?? I am not against paying taxes...But i don't want to give my hard earned money for someone who will produce some more kids for us to take care off!
Ours is a unique combination of parties . The congress which is intrested in making money for the rich and the Left which is the so call protector of the lower classes. In this fight its the middle class which suffers, the politicians fail to understand that their lavish lifesyles are because of the struggling and hardworking middleclass.All people think before you vote next time. Does the govt give value for your money. Mr PrimeMinister hope you are listening
With rising inflation, the tax slabs should start at Rs.3 lacs and be taxed at 10% upto 5 lacs and at 20% thereafter. Let deductions under Section 88 be increased to Rs.2 lacs and interest from Bank deposits upto Rs.25000/- be made tax exempt. This would be a bold step in tax reforms set up.
