I honestly do not think the budget really helped the salaried payer. Let us crunch the numbers as follows. assuming somebody makes the barest minimum to escape taxes at present that is 210,000 out of which 100,000 is saved as 80C which leaves 110,000 (exempt). In his own wisdom Mr PC knows that the pay commission is due out and minimumexpected raise is 20%which turns out to be 252,000 annual.Again doing the same math the person will have to pay tax on 2000 which is Rs 200 more than the present BUT somebody may argue that salaried people must pay. that is a question of semantics but overall with the pay commission report due in not a whole lot difference.Comments please!
RE:Whitewash
by Noushad on Mar 02, 2008 09:20 AM Permalink
According to the new slabs, you are going to pay less tax on total earnings. So, what is the whitewash now?
RE:Whitewash
by Fredy on Mar 02, 2008 11:19 AM Permalink
I agree with you, as everybody is expecting a hike in salary within few months. But the benefit you are getting is still there. Or you mean to say that your salary should not be increased or IT limit should not be increased. Please note that there are many private sector workers who is not coming under the pay commission !!! Majority of salaried are without any commission (In both meanings !!).
I cannot understand why people always reluctant to accept or praise a good work done by the govt. People are used to blame the govt. always, eventhough self are not doing any good for the country.
