Our taxation system is conducive to capitalism. A salary earner with over Rs 1.5L per year has to pay taxes, whereas an industrialist with a few crores as dividend income and another few crores from long term capital gains from exchange traded shares does not have to pay any income tax! A common man with a few thousand rupess per year from dividends gets heavenly feeling when FM makes these tax free! A poor man does not have money to invest in shares and middle class which is the vote bank gets happy with this not realising that it is aimed at the super rich to get richer. Salary of even Ambani gets taxed but not the income froom dividends. No wonder India is progressing with higher and higher number of billionaires!
RE:Our taxation System
by jahesh khan on May 20, 2008 02:11 AM Permalink
Better solution !! Islamization of economy ! Its true !! why cant we all try for islamic economic system. Try every body to learn and see its opportunity to solve the world problem. this is not to make any controversy. truth is that there is solution in islamic economic system. Zakath, sadaqa, charity, other industries without any interest. Before any body writes any comment or simply debate first try to learn about what Im telling
RE:Our taxation System
by Tushar Sakhalkar on May 20, 2008 06:06 AM Permalink
Iraq, Afganistan, Uzbekistan are Islamic Countries. Please convince them first..... We do not need this advice.... We do not need terrosrist economy.
RE:Our taxation System
by Sabu Abraham on May 19, 2008 09:54 PM Permalink
TO SOLVE THIS PROBLEM ,ELECT COMMUNIST CANDIDATES TO THE PARLIAMENT WITH MAXIMUM MAJORITY,THE CONGRESS AND BJP FAILED,THEY ARE MORONS,GIVE A CHANCE TO CPI(M).
RE:Our taxation System
by rajesh agarwal on May 19, 2008 10:56 PM Permalink
i think mr sabu you are out of your mind.this is the party which is supporting the government responsible for this inflation.outside the parliament it talks about the people and inside supports the policies of congress.no party in india today is worst than cpm.we are seeing in bengal where they have their gunda military force to kill inoecent farmers.they have done nothing in bengal for their improvement.today they are willing to kill poor people for the sake of tatas.and you want that such kind of parties should be given the nation.
RE:Our taxation System
by bharat korde on May 19, 2008 10:27 PM Permalink
CPI(M) ki sarkar aayegi to CPI(M) apne desh ke tukde kar ke chin ko khilayegi aur bolegi china hamara friend hai.
RE:Our taxation System
by krishnan on May 20, 2008 07:21 AM Permalink
and they will make us the vassals of china .andf then we wiil progress through the capitalist route as in china
RE:Our taxation System
by R K on May 20, 2008 10:15 AM Permalink
Support CPM to turn this country into a poverty stricken nation like they did to West Bengal. Before seventies, Kolkata was known as Manchest. of India lush with activities, industry and business and enterprizing youth usually looked towards Kolkata rather than anyother city. Now where does Kolkata stands? More over Communism is not fitting into our god fearing and democratic culture. It is imported from China/Russia where it has failed miserably. In Communism only political leaders enjoy freedom while the common man stands in long long ques of ration shops etc and in the evening the common man feels proud having acquired the day's ration. He feels more proud if somehow he is able to acquire some clothes and bicycle.
RE:Our taxation System
by Sebastian A on May 20, 2008 12:11 AM Permalink
Mr. Sabu Abraham - are talking something serious... U should know the pathetic state of KERALA...no industries...no job...
One way its good for KERALA...no immigrants etc...
RE:Our taxation System
by Hemant on May 20, 2008 09:48 AM Permalink
Mr. Shiv sehgal i think you need to study taxation again...even though there is no long term capital gain it is consider your income and you need to pay income tax on it its diff story that these people dont pay and hide income or pay it dept for waiving that.......but then you can also invest in same way and gain tax free income
RE:Our taxation System
by on May 20, 2008 02:50 PM Permalink
Hemant, pls dont speak without knowledge of the subject.If LTCG is free of taxation, its free of taxation. And saving tax by investment is only to a limited extent of abt 1 lac, so what abt a person who earns 5 lac in salary and a person who earns 10 lacs in LTCG, the rich keep on getting richer and the salaried middle class keeps sustaining the government by paying taxes. If we consider individuals, the salaried class is the most disadvantaged one, perhaps because they are not the votebank and shy away from politics and dont have any rep[resentation in politics.
