In India, we have to pay so many taxes like Income tax, Wealth Tax, House tax, service Tax, Indirect Taxes. After paying all, we left with very less amount to maintain House Expenses.
I think, the best option is to remove all taxes and have one Indian tax with lower limits.
5% up 5 Lac
7 % above 5 lac and 20 lac
10% above 30 lac.
This way lot many persons will come forward to deposit tax in time without any reminders.
Considering the huge expenditure on education and Government's faiulure to ptrovide the quality eduction at primary and higher levels, there should be exemption of payment of school/college fees. The limits can be set as high as Rs. 3 lac or something, considering the heavy college fees being paid by the parents out of thier hard earned money. It should not be like part of present Section 80C deduction, where there is limit of Rs. 1 lac and it is part of overall deduction alongwith PF,NSC,etc. It should be separate exemption like deduction of interest from house property.
The present tax limit is encouraging tax payers to evade tax payment under compulsion, as the present limit is so low, that tax payer feels it is robbery by Govt. In order to unearth the black money, Govt. should bring some scheme, where people are persuaded to declare the wealth and may avoid harsh action so that at least from new account, they do not feel guilty.
I feel tax limit to be increased from 1 Lakh to 3 Lakh, as the cost of even vegatables and groceries has shot up, banks are raising interest rates on all loans, even an increment of 20% would not help this year, as taxes are as high as 20-30% despite of savings.
Chidambara saar...please spare us, there are lot of your colleagues whom you can tax and generate revenues which can last atleast for another two generation ?
Yes, It tax limit has to go up from 1 Lac to 2.5 Lac and the investment should not be restricted to 1 Lac only. The tax to be calculated by flat % instead of doing lengthy calcutions and deferent slabs.
Does this exercise in asking for citizens feedback help in the decision making process.All the government has ever thought about is how to make their pockets fatter at the expense of its sincere citizens and also gain immunity from prosecution. The budget decision making is never done with the middle class citizens of our country in mind.
Tes definately tax rebate should be minm Rs. 2.5 lacs exepted from tax as now a days each and every item is becomming costlier and its very difficult to survive even after the salary hike
RE:RE:Tax Rebate
by Atlantis Enterprises on Feb 19, 2007 01:50 PM Permalink
Being paid abnormaly less than the Private Sector and add to it all types of other taxes, Government employees should be exempted from paying Income Tax.
Yes, There should be social pension scheme for tax payers!!! This will make the process of tax paying more transperent. The basic limit should be raised to 2 lakh Rupees, and also on saving limit should be raised at least by 1.5 lakh rupees. There should be only one flat rate for individual and other for commercial tax payers. amount should be used by govt. only for productive things instead of using benefit for minor communities.
