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.
RE:Income tax
by kunal aggrawal on Feb 19, 2007 04:14 PM Permalink
r u a goverment employee becuase a 40% ta x slab only they can suggest. i think if government starts to charge income at 40% then the price of the commodities will rise further pushing the inflation up.
RE:Income tax
by mohit gupta on Feb 19, 2007 04:19 PM Permalink
It seems to be a better tax slab rate than the present one. The people earningn more must pay more.
