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Income tax
by shridhar iyengar on Feb 19, 2007 04:02 PM

Income tax rates should be reduced for people earning less than 500000/annum. Now a days there is tax on everything and the common man is the most effected. The ministers are not bothered since they hardly pay any tax and get most of the benefits from the government.

The tax should read like below

less than 5 lakhs nil
500001 to 10 lakhs- 20%
1000001 to 1500000- 25%
1500001 and above-40%.

The people who earn the maximum should be taxed more.

shridhar

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