the calculation in the article has been done considering all the members of the family are earning and filing their seperate i.t returns.But i want to know how is it possible to bring down your tax liability to minimum if only one member of the family is earning this much income i.e 13 lakhs....Can you give a part of your income to your family members as a gift or not....and then could that gift be shown as a income of the person to whom you are gifting to....
Instead of doing all this stupid things Mr. lakhotia, why dont you start selling insurance policies along with your books, at least pepoles wont be fooled by reading first line
This is not valid for salaried class.. Salaried class guys remember you are the modern day "milking cows"; although you are the one who drives almost half of the productive work, you have no options available for saving tax.. everything and eveything will be taxed including your breath... forget aby tax saving.. add to misery the savings you make are taxed perpetually.. via TDS and all kind of crap unleased by finance ministry.. Also add the inflation and the loss of purchasing power that governtment destroys due to unnecessary expenses including the creeps that crawl the asssemblies and the IAS-IPS-IRS etal (the new incarnation of British Raj).. Democracy has become a big farce..
Though every salaried employees are pinched by the Tax, I think its not ethical to try and devise methods to avoid tax completely. Already companies and employees are making all means to reduce taxes. No wonder then that all the rich business people, film stars, industrialists and companies know all crooked means and avoid tax. Why should we blame them. Had there been a fool proof system or honestly if every Indian pays Income Tax regularly as per rules without evading, then India's povery and many other problems could be easily reduced to minimal. No wonder the European countries are more loyal to their motherland. Rediff should have moral responsibility to encourage and guide people to pay Taxes.
RE:Fooling the Governemnt
by k kumar on Jul 10, 2008 11:32 AM Permalink
Buddy , Taxes of all forms are nothing but leagal dacoity ; specially in India where ine gets nothing back.. In western world, govt is more efficient and atleast you get something back.. althoug they also waste money as doles to its unproductive citizens; In old days , the unproductive people used to gang up and loot ; now we have improved and the loot is via leagak means.. Wake up buddy, taxes are against every principle of freedom.. You have no optionn ..You have to pay(atleast for salried class) Don;t you think it is leagal dacoity..
RE:Fooling the Governemnt
by Atul Goyal on Jul 10, 2008 11:44 AM Permalink
there should not be any income tax in india, service tax and all other taxes is the simple remedy, where the govt gets the revenue whether the person is earning or not.
