Finance mininsters always keeps telling that the income tax in india is much less when compared to other countries. At the outset it seems like that, but i feel it is not so. For eg. everybody tells the income tax in germany is very high around 42%. But, it is only the highest slab for the income tax payees. There are different classes of income tax payers. Class 1, 2, 3 etc., The public is divided into different classes according to whether the person is individual, whether the spouse is employed, whether they have children, whether the child is handicapped and so on. Hence, the tax is in proportion to on the income of a family and its corresponding expenditure. But, in India it is not so. Single income family with and without children, double income family with and without chidren, everyone is treated equally. In a particular company or department because of this tax imbalance, two people starting their career with same economic background tend to diverge slowly according to their income to expenditure ratio. As such there is economic imbalance in India; people who are rich are becoming richer and richer and people who are poor are becoming poorer and poorer. Why dont income to expenditure ratio be taken into account?????????
RE:balanced income tax
by james on May 06, 2007 04:37 PM Permalink
The income tax in Denmark is higher than any country in the world.I pay 52% of my money as tax.Even the tax rate goes upto 70% percentage for very high incomes..
RE:balanced income tax
by chetan shetty on May 06, 2007 04:59 PM Permalink
still in most of the countries you get returns in some or the other form at old age...what do we get in Indi ????
RE:[object]
by chetan shetty on May 06, 2007 05:02 PM Permalink
in other countries we get free kids schoolings,medical, old age pension etc...in India we only fill our babu's(ministers),OBC,SC,ST guys stomach...when they relax and eat our hard earned monye.....
RE:balanced income tax
by R Saravanan on Jun 24, 2007 05:59 PM Permalink
yes india is a country of shortcuts. if the govt cannot catch the bigwigs they will burden the tax loss on all the common people. typically, it is like robbing paul to pay peter.
RE:balanced income tax
by pravin wankhade on May 09, 2007 12:15 PM Permalink
What has tobe done with SC,ST and OBC's here my dear ??. Please be Cognizant while writing any comment.
RE:balanced income tax
by Amitabh on May 08, 2007 09:55 AM Permalink
Look Snehidhan,it is not mandatory for me to comment on each and everything that people post.I also agree that there are a lot of things going on in this country that should be improved.I try to help people by giving tax advise with whatever little knowledge that I have,that is it.You are commenting as if I am the finance minister and I am drafting the tax laws.Please refrain from giving such comments in future.It smacks of a sick mindset.You are free to comment on my replies,if possible,even contradict,bit you have absolutely no right to say where I should give my comments in the first place.That is my prerogative.
RE:balanced income tax
by snehidhan on May 09, 2007 08:03 PM Permalink
hi Amitabh, i am sorry if my query hurt you. infact, my intention was not that. after reading your comments/advice for many of the queries, somehow it became a habit for me to look for your views for almost all the questions. since, i didnt find your opinion on this particular query for quite sometime, i became curious to know what will be ur opinion on this particular query and thats it.
RE:balanced income tax
by Amitabh on May 09, 2007 08:24 PM Permalink
It is all right Sir.Actually earlier also somebody had made a sarcastic remark like this that all queries are being answered by Amitabh.That time I had reported abuse and it was considered favourably by the moderator.Let us both forget and forgive each other.
