Income Tax Burden on salaried employees
Hello members,
We all know that income tax slab and maximum percentage to pay income tax to the Govt. This is just to know the view of our expert members that if Govt stop to collect the income tax from salaried employees then how much difference will come in Government’s revenue?
There are already many kind of taxes paid by salaried people in form of direct taxes & indirect taxes, may be it is given to two different entity means Central Govt & State Govt but finally paid by people like us. If we list out the no.of taxes paid in India then the list will be too long. So is this justified if we get somewhere relaxation in paying income tax?
Again here there is two things either it should stop or relaxation. If relaxation then slab structure and maximum percentage to pay income tax that is 30% should change. Because 30% is very high.
Please suggest your opinion so we can give some output to those people who are representative of Government. more
We all know that income tax slab and maximum percentage to pay income tax to the Govt. This is just to know the view of our expert members that if Govt stop to collect the income tax from salaried employees then how much difference will come in Government’s revenue?
There are already many kind of taxes paid by salaried people in form of direct taxes & indirect taxes, may be it is given to two different entity means Central Govt & State Govt but finally paid by people like us. If we list out the no.of taxes paid in India then the list will be too long. So is this justified if we get somewhere relaxation in paying income tax?
Again here there is two things either it should stop or relaxation. If relaxation then slab structure and maximum percentage to pay income tax that is 30% should change. Because 30% is very high.
Please suggest your opinion so we can give some output to those people who are representative of Government. more
Viewed by 17
The income tax collected is hardly anything compared to the total revenue. If possible, income tax on salaried persons should be totally abolished and still make only negligible difference to the total revenue. Or else, include everyone (no exceptions) in the tax bracket and reduce the slab. If it is not possible to be abolished then, I would personally like to have the following tax slabs ( for taxable income): 0 - 5 Lacs - No tax 5 lacs to 10 lacs - 5% 10 lacs to 20 lacs - 10% above 20 lacs - 15%. Every citizen would be more than happy to pay the tax. Because each one of us pay some tax for every transaction that we do on a daily basis. The list is too big to be listed here. more
Jan 13
For every single purchase of white goods, vehicles etc. of more than Rs.2000/-, PAN no. or aadhar no. should be mandatory. this will help in tracking the purchasing power of people who avoid tax such as doctors , lawyers, consultants, shopkeepers etc. Every shopkeeper should also be held responsible to collect the PAN nos of customers. When this (KYC) can be done for RS100/- SIM card ) why can't this be implemented for other areas. When all these defaulters pay their tax then naturally the IT burden on salaried class will come down. Banks should not accept cash deposits beyond Rs.5000/- per day or Rs.20000/- per month. This will encourage transactions through cheque, debit cards or online. more
Jan 13
See who is paying Tax.................... most of the tax payers know that Govt is collecting taxes from Salaried employees and Business owners only, 70% population do not pay tax as they are farmers, strange, however very good numbers among them are making money by using their equipments / vehicles in commercial activities, Tax should be applicable to all who is in good financial conditions, more
Jan 13
Unless the Governments implement Bank through transactions for above Rs.20,000/- per week . curbing Rs.100/- above Currency replacing with charge free Bankers Cheques & Postal Orders through Accounts held , THE GOVERNMENTS CAN ONLY COLLECT TAXES , FINES , FEES , PENALTIES Etc., Etc., FROM ONLY SALARIED EMPLOYEES AND , as long as this Ruling Policy exists in any Country' s administration , all the Businessmen that are financing the Political Rulers , all the Government Staff including IAS , IPS , IRS, IFS, etc., etc., those are supporting for those Political Parties being received sufficient Corrupted Money being shared ; THE POLITICAL FIELD ONLY LIES AS HEAVEN OF HEAVENS WITH ALL WEALTH , JOY AND ALL . more
Jan 13
When a family member will face a debt? When the expense is more than a income. India is in debt which means expense is more, when the expenses of the government is kept in control then the tax percentage (Income to the government) can be easily brought down. How bureaucrats along with the finance minister is going to achieve this and how fast this will be achieved??? more
Jan 13
