<< Prev
2 of 2 in Topic
| Topic : Budget 2011 |
|
|
Posted in Community :
Banking & Insurance Professionals
|
|
Activity:
7 views;
last activity : 03 16 2011 16:20:31 +0000
|
|
|
|
1
Below 2.5 lac Tax free, 2.5-3.5 lac @ 7% & 3.5-4.5 lac @ 15% above 4.5 lac @ 20%
2
Introduce a flat, no questions asked slap basis...
3
Help Salaried Class
|
||||||||||||||||
|
|
Rs. 18,000-20,000 per month is the basic salary required to support any family. And already profession tax is deducted by states on the salary. Add to this the compulsory ESIC deduction on a monthly salary of upto Rs. 15,000. The current income tax exemption limit is very low considering the inflation we have witnessed in recent years. In my opinion, income of below Rs. 2,50,000 p.a. should be tax exempted. Rs. 2,50,000 - 3,50,000 should attract 7% tax. Rs. 3,50,000 - 4,50,000 should attract 15% tax & income above Rs. 4,50,000 must be taxed at 20%. |
1
|
No supporting Arguments for this idea
|
|
Like people upto 2 lakhs should be exempted from paying IT. Have a flat 5% of tax on incomes between 2 - 10 lakhs, 10% between 10 - 20 lakhs, 15% between 20-30 lakhs and 30% above 30 lakhs. No questions asked ! It should be computed on your total annual income including interest, salary, gifts, rental income received etc.
There should be no exemptions under any sections. In this way more number of people will come under the tax net with no room to show any deductions. Also there should be no TDS on any deposits or interest received. This way income tax records, collection, assessment etc. will get simplified.
|
0
|
No supporting Arguments for this idea
|
|
I know a group of Doctors who were taking salaries, changed it is "professional fees" so that they can claim part of the rent, telephone, petrol bills, salary to asst, other admn exps as deductions and paying much less tax than before.
Salaried class are the most sufferers. My idea is upto No tax upto 2.50L. 5% from 2.50L to 5.00L, 10% from 5.00L to 10.00L and 15% above 10.00L.
|
0
|
No supporting Arguments for this idea
Add your Idea
Could not find any idea interesting in:
"What should be the ideal income tax slabs?" ?
Click here
to add a new idea...
Found the idea contest
"What should be the ideal income tax slabs?"
interesting ?
Click here to refer to your connections and communities

Leading Executive Search Firm
- Create a confidential Career Profile and Resume/C.V. online
- Get advice for planning their career and for marketing of experience and skills
- Maximize awareness of and access to the best career opportunities
Viewers also viewed
|
|
|
|
|
|
Recent Knowledge (3)
Sponsored Jobs
More From Author
I agree. India should be self-reliant in this filed it has capability to do so. Imports are means of getting kick-backs for politicians should be restricted. They also drain a lot of foreign excahnge which is not good for the economy. |
Its scientifically proven that cell phone waves are harmful for any living organism. Humans are more prone to radio waves of cell phones. To be safe follow these tips: Restrict cell phone usage. Don't keep it in your pocket all the time. Keep it away... |
Yes I agree with Sheetal. I will like to add to her point that many students get degrees but they have no knowledge. In some cases people persue courses which do not have anything to do with their area of work. Its just for show-off. |
