Irrespective of limit on savings by an individual salaried person, the tax slabs should be nil tax for income upto 1.80 Lakh and 10% over & above of 1.80 Lakhs upto 3.50 lakhs and 15% from 3.50 Lakhs to 6 lakhs and 25% over and above 6 lakhs onwards
IN todays India, a minimum requirement to have a decent life one needs Rs.15,000/- per month. Hence, I think that the honorable FM increases the zero tax level to Rs.180,000/- per annum accross all - individuals, women and senior citizens. There is no point to have any discretion for the women as todays world is of equal opportunities - the share of committments also should be equal. The deduction limit under sec 80C to go upto Rs.150,000/-. The tax slab above Rs.180,000/- to Rs.250,000/- to be @10%, Rs.250,000/- to Rs.360,000/- @20% and then upto Rs.600,000/- @30%. Above Rs.10 Lacs, the tax should be 40% of the income exceeding Rs.10 Lacs.
sir in order to include mny income tax payers FM minister has to raise the limit to 1.5 lakhs and reduce the slab rate from 30 percent slab to 20 perent or raise the taxable amount from 2.5 lakhs to 3.5 lakhs for this slab
I would say the article should be "Cut Tax Rates". I agree to all who have tried to forward their messages and tried to speak what we want from FM this budget,I would like to know from rediff, does these messages going to reach to our esteemed FM or it would remain as the same way and people keep reading and agree/disagree to each others viewpoint. To my view these messages should reach the right man's ear. But how we can assure that, though Finance Minister know every Indians expectation.
IT ought to be abolished on individuals. If need be, individuals may be required to file nil returns. Just so the government can keep tabs on earnings. To make good the shortfall, if any, businesses should be taxed a percent or so higher. Doubtless the government rakes in more than the budgeted receipts in excises and custom duties. Then why is the government arm-twisting public and not-so- aam public to contribute miniscule amounts each year?
Every one knows India coporates are performing exceptionally well. The salaries on the raise, the purchasing power of the people increased. What is the point of keeping the tax rates as high as 30%. The idea of keeping the tax as high as 30% is mainly to provide infrastructre to the common people which any of the govt is not able to provide. If they still want to salaried people to pay the tax, let the govt be open and candid in announcing that, if any citizen is not satisfied with the infrastruture provided by the govt can very well claim back the tax paid and this will be credited within 30 days of his application filed. Govt has to be more responsible for their actions rather than just keep giving some promises alone.
come on Fellow Indians join me in requesting the govt to take necessary action.
