Every week we get the latest inflation figures. Todays was 12.1%. this means that the real value of our earnings diminish by 12% every year. But suprisingly, the income tax slabs are touched once every 3 or 4 years & that too it is shown that the government is doing a huge favour on us by increasing the slab of minimum taxation. If the real value of the money in my hand is diminishing then the income tax slabs also should be increased by the % of inflation of that year.
