Reducing the petroleum prices is not enough to contain the inflation & prices of essential commodities.The Finance minister should focus onscraping the fringe benefit Tax which is nothing but levy of tax on expenditure which is totally unjustified. Similarly the rates of service tax should be lowered to atleast 10%
Why the finance minister is always after the salaried calss?? Chartered Accountants, Advocates, Doctors, Engineers, grocery shop owners are receiving cash without maintaining any records?? Any laws for them ?? Because the salaried class is always accountable, the minister can chase them. A minister needs 100 securitymen, somany vehicles and all other facilities - every year these type of expenses will get increased. Wherefrom the money come in? So the ministry will think of surcharge, tax on that, tax on this and so on - meticulously plans how to empty the pockets of the poor people. If there is a law in this country which restricts one car with a driver, two security guards and an apartment to reside, how many politicians will come forward to "serve the people". They will get money, material and all types of conveniences by prostituting the exchequer.
RE:RE:Salaried class always getting axed
by Raj on Feb 19, 2007 06:16 PM Permalink
Agree which party will do it? Congress or BJP. Or Salaried class need to form a new party to accomplish this task
You are well aware that prices of goods and services differs from place to place whereas Tax rate is uniform for all over India. It should be chalked according to State/Place.
Yes in today life the Govt should also think about revamping the whole process but not just following the old system and increasing the tax rates. Now the life style is changing and the way people are working and the way the international competition is taking the new course. Many in the Govt sector get some benefits even though their salaries are low which is not the same with people working in the Private sector or the MNCs because their pay scale is high but at the end of the day all end up paying equally for the increasing prices in the essential commodities. The tax slab should be increased to something like 300000 and then the calculation should be nominal. And for the Govt. to generate revenues, appoint sincerely people and take more stringent step to curb corruption and Black marketing. As we all know many of the people in key positions are working hand in glove with the wrong people and system for their own financial benefits. So if this can be eradicated then I am sure for such populated country like ours even little or nominal taxes can earn rich revenues. Only thing for this is people in the responsible positions should work more practically and collectively with higher degree of cooperation and coordination to raise India high. I am sorry if anything adverse is communicated or interpreted in my views.
I have gone thru some of the messages below and found that major of them are in earning range of 3-5 lacs and hence they are comparing their tax liablity with higher incomes and showing problems faced by them.However I must keep in mind persons with higher income may also have his own problems. But I thing is absoultely right why they should pay same percentage of tax as of higher income? In my opnion one must pay the tax in proportion to his earnings. Hence I propose simpler system tax should be same percentages as of his earning.
upto 1.0 lacs - no tax
upto 2.0 lacs - 2%
upto 3.o lacs - 3%
upto 4.0 lac - 4%
and so on.
getting a exemption should be same proportion of earning. One must save upto 30% of income and must get exemption for the same.
In proposed system although tax rates are low but people will feel comfortable in paying tax with out hidding the income and hence government will not lose anything and earning people will be happy to in proportion to income.
Now a days the cost of living is very high in contrary the necessary change was not done in tax structure . For e.g currently the rebate in conveyance is Rs 800/ per month . But this is nothing as far as the normal bus fare is concern . Moreover the people who are paying taxes should have some additional benifit from the Govt may be in terms of security or in pension etc than that of who are not under the tax bracket .
Hi friends, Last year similar thing happened. FM was travelling all around asia to Hong Kong when there was budget preparation as he had full faith in the Secretary. What happens exactly if it left. See this. The secretary will be an IAS officer. The salary he gets is very much higher as we all get. Normaly all IAS officers wil have working wife. They will not have time to prepare fo food. So last time the ready made food item was tax free and rest was taxed to comman man. This time again, we will find the same thing which this secretary has the deficiency.
The FM or whoever politician is been elected to represent the society, the poor, the middle and the rich. Normaly the politician is a rich as poor or middle call will not have money to spend to compete for elelction. By winning they earn more money to become more rich. Then they will not know how the poor or middle class is living. They cannot imagine the life of poor or middle. For them the poor is without benz car and not flying frequently thats it. So they make the tax accordingly. I commented on the budget last year the same thing saying the budget is not good for poor and middle. The comment was neglected at the time I posted as most people welcomed the budget when proposed. Later everyone understood the impact of the budget the FM Chidambaram proposed last year. Now everyone is curbing on having this government in power. This FM is for rich and corporate people and the government is only for Minorities. There is nothing for us poor and middle class people. We are hanging in the middle. We tolerate everything as we can neither fight leaving the everyday livelyhood nor keep quite as this takes way everything that we hard earn with little time to rest.
The best thing is to have pre-budget proposal aired by all TV, radio and get the suggestions from all the corner. Modify the budget that suits better for the poor and balance the economy of everyone. They tax 25-30 % directly from 1- 5 (i hope) lackh and later the efficient of tax keeps reducing as 5-10 30%, 10 lakhs 40 %. This means the one who earns more will have to loose less and the one who earns very less have to loose everything he earns. Thats is good right? Because this way the FM, the secretary, the politicians and the riches will loose less and will have many working for them so that they can earn more. This is the policy. We are free from British but we do not have Freedom.
RE:Budget
by Shrikanth Vadali on Feb 19, 2007 05:58 PM Permalink
Yes my friend you I agree with you. All the people who prepare the budget sitting in a closed & secured environment will all comforts. They some how make the budget so that they are well off with their salaries and other benefits and end up paying less. They are the same people who talk of eradicating poverty?!!!! "Great sayers are not always Great doers"!!! Poor people are only a bridge for them to come to power. In this world people who talk, acted or wrote about poor or the middle class people have all become rich but the Poor man is still where he was before independence. Yes sure the British physically left the country but left their path for many fo our own leaders/ploiticians to follow their foot steps just for personal gains. Everything is borrowed and refurbished from their system.
We are paying housing loan interest, Personal loan interest, income tax, but not able pay for our parents. Parents are paying monthly 3% interest on their loans. I do not know how we will make-up?
i think it is time to do away with various slabs and other form of indirect taxing. A uniform tax of say 5% from all sources of income that too as a TDS should be the right way to have
Now a days the cost of living is very high in contrary the necessary change was not done in tax structure . For e.g currently the rebate in conveyance is Rs 800/ per month . But this is nothing as far as the normal bus fare is concern . Moreover the people who are paying taxes should have some additional benifit from the Govt may be in terms of security or in pension etc than that of who are not under the tax bracket .
