As a common man I feel our tax system is not allowing to work me freely. I suggest cancell all the taxes (all Direct and Indirect Taxes) and summup all taxes under one name of Income Tax. Maybe percentage would rise but it may help to stabalise the cost of living and Simplified tax system would attract more business in India. and People may find the system friendly.
Or..
Only put transaction tax.. cancell all the taxes.. there may be different tax system for foreign companies. This will help to collect taxes from all.
Thank you. (I know, there are flaws in my sugessions but I am also confident that we people can prepare new and friendly tax system for our COMMON MAN and our INDIA. I belive if we can make our tax system common man friendly we would not require any out side investment but our pople would start their own businesses. and I feel that would make our INDIA the Strongest country.)(Its a view of common man...)
I am a senior citizen of 75 years and have to file tax returns [acct.yr.2007-08 -asses.yr 2008-09]. Though my taxable income is less than Rs. 185000, first time I have capital gains of Rs. 14000 and I have to pay short term capital gain tax. Can you please help/guide as to how to work out capital gain tax? thanks Sunder Thadani. mail to:thadani.sunder@rediffmail.com mob:22.9867201030
RE:Simple Solution : Make tax calculation and filling online
by Sunder Thadani on Jun 15, 2008 11:16 AM Permalink
I am Sunder Thadani from Mumbai-India. I am 75 years old. My taxable income is below INR 1,85,000 but I have some capital gains [within 12 months] to the tune of Rs. 14000. Can you help me to work out as to how pay tax on this short term gains and file the return online. I have PAN since 1975, and have been filing the returns regularily. This capital gains is first time to me. Will appreciate an early reply/help/guidance. Thanks mail to:thadani.sunder@rediffmail.com mob:22.9867201030
As we have several thousand standing, sitting, sleeping, dead, in coma etc MP's MLA's MLC's we need to pay more tax to take care these MF's... So lets not cry.
RE:Here pour forth jejune words and useless empty phrases and a chart to boot !
by Sunil Dodeja on May 07, 2008 04:21 PM Permalink
Its called Sucking Blood
Before independence there was no indian constitution, after independence we framed it. Except this all administrative / revenue laws adopted from english monarchy without fundamental changes.
Revenue laws are basically govt sources for funding its expenses.
Government expenses are basically establishment expenses (Defence and civil), administrative expenses, welfare expenses and developmental expenses etc.
But see expenses side is uncontrollable, no govt. machinery is working in a judicius manner. Dalali is rampant, unlike in US we don't have a system of buying at competitive rates. In the name of welfare expenses policies are made to loot public money. Establishment costs are being increased without measuring performances of the personnel. A high burden on exchequer.etc etc.
All this make govt. to chase honest tax payers for more money as taxes.
Therefor all taxpayes should come forward to frame a people code for each category of taxes and form an organisation to have a watch on govt spending. Overall India is an independent country and its people are over and above all govt machinery.
Then only these beurocrats and politicians can be made more accountable.
I have been reading a lot of the articles and mostly people are pointing their fingers at the Information technology sector. The truth is before the 2002 people were getting better pay in IT but now the scenario is completely bad for IT. If a company pays 100 rupees to their employees then they get 400 rupess of work done from IT people. Moreover we have to pay flat 30% on tax. It is just hype created by politicians that IT is the reason why their is price hike. I agree that some of the people do have good money in IT but it is equally comparable to their counterparts in any other industry. Ask any IT guy and you will know the truth. Please change the attitude of thinking that IT people earn lots of money. Its just false and just another way of distracting the people. Would you agree if Indians eat more than US people. Its the same analogy. Wake up guys. IT people are also getting normal pays. To know the truth just ask ur friends who are in IT, and not an auto walla or grocery guy or any sick politician.
RE:ITpeople dont earn that much as the hype created
by Sanjay Gupta on May 06, 2008 03:56 PM Permalink
how bad vinod. Why dont you switch to manufacturing sector you would know the truth.
The truth is just because you have done a B.E or B.TECH course you need not be paid for.It is because this sector was booming and now the gap is reducing hence this feeling
We call ourselves the largest democracy, whereas we are not even a democratic setup to start with. Democracy is a system for the people, by the people, of the people. Here we are all working for the bureaucrats and politicians, instead of the other way round. We are afraid of them and bow to them. We have to stoop 2 feet low when visiting a government office. This is our democracy. Indian political parties are controlled by a high command and coterie, which makes even the political parties undemocratic. Parties which did not win major votes are able to form a government with the help of loosely held minority parties and take care of their vested interest. It is high time citizens start taking things in their own hands and clean up the mess created by the politician and bureaucrats and if possible clean up the politician and bureaucrats.
Arrey kam se kam there is a possibility of saving some taxes... I am currently living in Guyana and the tax burden is so high here. TDS 33.3% and National Insurance Scheme 5.2% (no way one can save these), over and above 16% VAT. The VAT is so comprehensive that it sucks on every possible things. Now tell me is it an easy system you mean?
RE:Not worst in the world
by Sathish N on May 06, 2008 03:42 PM Permalink
We don't have to structure our tax system based on what is happening in other country. Tax is collected so that peripheral functions required for the functioning of the country can be taken care of. There is only so much money required to take care of those. Any extra collected is usually pilfered, which needs to be avoided. If someone comes up with an argument like yours, he should only be having a vested interest.
RE:What is the punishment for corrupt tax officers
by shameer khan on May 06, 2008 03:50 PM Permalink
Report to ACB(Anti Corrutption Beauroe) The Next question will be When a ACB officer is caught taking bribe, what to do? Report to the ACB commissioner The next question will be Hope you got it.....
this is never ending chain. And at every stage There is very good sharing policy.
RE:What is the punishment for corrupt tax officers
by Neeraj Kumar on May 06, 2008 05:29 PM Permalink
He is suspended immediately in such cases. In very few cases such officers are dismissed as well. In most of the cases, they manage to save themselves because of our judiciary. In any case, conviction rate is extremely low n India for all types of cases. But it is a fact that his suspension is revoked only after 4-5 years. If you know any case, where tax officer was caught red handed taking bribe and reinstated before 3-4 years then plz. share that information. So, it is incorrect to say that they get scot free.
