| Topic : India Budget 2010 |
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Activity:
27 views;
last activity : 07 06 2010 20:18:09 +0000
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Tax relief to the salaried class by way of enhancing the standard deduction limit .
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Decrease in tax rates
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Emphasis on Direct Tax Code.......
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The salaried class are the worst effected be it on the tax front or be it bearing the blunt of inflation . The kind of tax evasion that takes place by business class , doctors, advocates ,builders etc.( My appologies to those who do not evade tax ) , the blunt of this evasion is faced by the salaried class people whose taxes are deducted automatically. Being a finance professional i have closely observed how and to what extent the non salaried class manupulate their income to evade tax . I personally feel that voluntary decleration of income by these class of people must be stopped and stringint income tax rules should come up from the finance minister to bring out the real income of people so that each has to pay tax as per rules and not only the salaried class.BUT THE BIG QUESTION IS ARE OUR HONOURABLE MINISTERS GIVING THEIR TRUE DECLERATION OF INCOME ? ARE THEY PAYING THE RIGHT TAXES ? IM SORRY I FORGOT ! THEY ARE NOT AAM ADMI
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As all other citizen of India, I also want a bit relief in the rate of income tax. It was heard that the new Direct Tax Code under discussion proposed to limit the highest taxable rate. If implemented the highest tax slab discussed in the first point above will be reduced to 25% only from 30%. So, I also want a decrease in the tax rates this time. |
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With the new proposal of Direct Tax Code that our FM talked about in the last budget, it is very well understood that this time it will be clear whether the Direct Tax Code will ultimately be brought in or not. After the Budget, the professionals will have to adopt themselves to a big change in case, it is applied.
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