Taxmen should watch L.I.C. and the alikes first. Huge black money is being invested in these schemes by taking a number of policies at regular periods. Secondly all the Charted Accountants should be iterogated severly - They bungle with accounts and act as middlemen with the department. Grill them - most of the problems would be solved.
A large number of persons who have taken housing loan and claiming rebate on interest payment under sec.24 live in govt. accommodation. They do not show their rental earning and claim acquired flat as self occupied in the return form. It is happening because it is nowhere mentioned whether the employee is getting HRA or living in govt accommodation in the return form. Neither it is mentioned in Form 16. Govt. should plug this revenue leakege.
During his first tenure PC was hailed for his approach towards the common man or the middleclass...!!!! But this time...Dont know what has happened...Such learned people are also getting indulde in "Vote ki Politics"...!!! Its only middle class due to which India is growing and taxman is putting more and more burden on them only....Shame!! Shame!!!!!
What tax man watching I think their eyes are blind only his eyes are watching only middle class people whereas their taxes are deducted by concerned office then only they are releasing the salary. Why not they are searching Big FISHES- THERE ARE NUMBER OF FISHED WHO ARE PAYING HONESTLY?????? MILLION DOLLAR QUESTION. I TELL NUMBER OF PERSONS ??? ARE AMBANI PAYING TAXEAS PROPERLY, ARE TAMIL NADU CM FAMILY PAYING TAXES HONESTLY???? WHO HAS 9000 CRORES WORTH OF BUSINESS,???? ARE VIJAY MALAYA [OWNER OF SPICE JET] PAYING THE TAXES? ARE MAHENDRA & MAHENDRA PAYING TAXES HONESTLY??? ARE ALL THE JEWELLERY SHOPS IN TAMIL NADU PAYING THE TAXES HONESTLY??? WHY THEY WANT TO KILL MIDDLE CLASS PEOPLE. FOR ALL THESE PEOPLE ARE VERY ANGERY WE WILL SHOW TO OUR STRENGTH IN 2009 LOK SABHA ELECTION TO CONGRESS PARTY ??? LET THEM FACE CHELLAGE
India is one of trhe highly tax payin nation!! except air everything taxed!!!
Here everything is taxed this toomuch. actual money come to IT dept is from lower earned public. many millioners don't even pay tax. If alll millinares and rich people pay tax correctly i am sure there will not be any poverty in INDIA.
RE:India is one of trhe highly tax payin nation!! except air everything taxed!!!
by sebastian george on May 04, 2007 11:34 AM Permalink
you are right. everything is taxed and why do not the Govt. think of avoiding personal Income tax . It is really a harassment . Now more items have come under sale tax,VAT , service tax,transaction tax and it is the middle class who are really suffering from IT. It is high time to think of avoiding personal income tax.
RE:India is one of trhe highly tax payin nation!! except air everything taxed!!!
by ramakrishnan balasubramanian on May 04, 2007 11:46 AM Permalink
Dear Friend: Rediff reads all the views of the public and when they feel that things are really hotting up for the Hon'ble FM (which is normally the case always because he is anti-middle class), they conveniently remove the subject. A day will come when the FM will start taxing all those who wears full pants!
RE:India is one of trhe highly tax payin nation!! except air everything taxed!!!
by srinivasan mv on May 04, 2007 12:14 PM Permalink
You are right,
the following services will come under Service Tax net from next year.
1) Housemaids
2) Barbers
3) Home tuitions
4) Baby feeding
5) Nannies
I am sure, Mr. P. Chidambaram will include these too next year. With all the monies collected, the Politicians will carry on with their Human trafficking safely.
Sir, My question is : I got the 1/4th property share in June 2006 ,from originally in the name of both parents. My brother made the payment to me by DD.
pls tell me if this income to be quoted in ITR & whether property gain tax would be applicable ?
which form A/B would be useful for me if I need to invest partyly in property & in phases.
Amount of Rs 2 lacs is too low and should be revised. In today's world where a person do all his transaction through credit card, he crosses the limit very quickly. If IT deptt queries such cases, it will be harrasment for the person.
RE:Credit Card spend
by Arun kumar on May 04, 2007 11:19 AM Permalink
Definitely 2 lakh is a very small amount to be spent in a year in using the credit card. The finance minister want to increase the tax of the salaried people, while he doen't bother to find a way to make the business people pay their tax for the money they earn
RE:Credit Card spend
by Nivedita Sarda on May 04, 2007 11:44 AM Permalink
The maximum number of people who use credit card are the people who are on regular income source and are honest in paying taxes. The business class never shop on credit card because they do not have the white money to pay the expenditure. This move in my mind is quite follish. They should encorage use of more and more credit cards as the black money will come in the channel of banking through this mode.
RE:Credit Card spend
by Rama Krishna N on May 04, 2007 11:16 AM Permalink
this is very much true... in any given year most of the people who use only credit cards for all their monthly expenses and utility bill payments would easily cross this limit... this would only mean that the IT folks can find more ways n means to harrass people n seek bribes much more easily than earlier... the finance ministry is only trying to peek into an individuals expenses indirectly after removing the madatory filing of balance sheet... This government sucks big time!!
RE:Credit Card spend
by Ganesan Krishnan on May 04, 2007 11:14 AM Permalink
I would say it is only too good...taxman will get some 10 million records...let them search whatever they want from it...it will only confuse even intelligent officers..more money will be spent by taxmen on nothing
