Maximum tax should be 25 percent and not 30 percent...how can personal taxes be more than corporate taxes...secondly ltcg taxes should be removed completely to encourage long term investments..
have lost all hopes from this government..I am sure they will increase GST and increase LTCG tax. They are the ones who first started taxing LTCG and now increased tax to 12.5%, they might now increase this tax to 20-30% with no indexation benefit. So investing in stocks and mutual funds is also not profitable. The idea is to keep the middle class always in the middle, so they never become rich and keep working till death. Shameless government to lower corporate tax and increase tax on LTCG, increase GST, tax on insurance schemes etc. All tax simply goes as salary to government employees. Services like somalia and tax more than US. Tax terrorism! Arrogance at it's keep! I hope this goverment does not come back!
They cannot. Because as per Income Tax Act to consider income as salary there should be employer and employee relationship. And MP / MLA are not employees of the government, they are representative from their constituency.
@@samuelgeorge3823 anyway they don't need any monetary benefit. They work day and night only for the welfare of common citizen of the country as we all know. Isn't it?
@@TAMIL_NIFTY50 Really ? For practicality lets increase LTCG to 30% with no indexation benifit so the middle class remains in the middle and never gets rich and stops investing in stocks and mutual funds! I payed a GST of 5000 on my health insurance of Rs 15000. GST is also tax! If I sum up my income tax and GST per year, I am giving more than 40% as taxes to the government, being from lower middle class.All our tax goes to government employees salaries which are increasing astronomically. A govt peon earns 60K per month, whereas my nephew who is an engineer now earns 55K per month! Is it very practical to lower corporate taxes ? In US, UK people who earn more than a million dollars come in the 30% bracket, whereas here 15Lacs is enough to reach that bracket! You must be a corporate or a rich person to say that 30% is very practical for 15 lakhs!
@@TAMIL_NIFTY50 only 2.2 % of Indians pay taxes.. You want yo milk only tax paying individuals... Whu dont you build process to make 100% Indians tonpay taxes and it should br lesser percentage
In top cities like Delhi, Mumbai, Bangalore, Chennai, Hyderabad etc, there should be no tax up to 10 lakhs as people hardly can save anything for there future contingencies with that income or even not able to buy a home in life time.. Maximum tax slab should be 25% and that too above 25 lakhs income
Nirmala Sitharaman is having some vengeance with middle classes, though she claims to be coming from the middle class. She believes that salaried people can be looted as done in the past and can be taxed to 98% She is the only Finance Minister who has consistently burdened the middle class to a great extent.
Logically speaking…if Nirmala Sitaraman is from a middle class background how come she has become politician and finance minister…🤔I pity on your innocence.😢
I have been looking at these kind of changes since i started earning 6lakhs atleast 20yrs back. With only few more yrs left for my retirement, i dont think this dream will be in lime light. Givt can only punish middle class
India is a consumption based economy. And Nirmala Sitamoron is killing consumption with income taxes. Politicians never listen to economists and that's why many countries face bankruptcy
Reduce tax rate for salaried class....to cover up the loss.....put tax on farmers earning more than 50 lakhs .......this way you will increase the no. Of ppl filing return
This is dramma. Corporates never ask relief to below 5 crore earning people. Finance minister never bother about middle class people. So, no relief is expected to 15 - 5 crore earning people
Are you kidding? 25 lakhs income is considered below poverty line in the USA. At least they get benefits for what income tax they pay. Completely remove income tax. Everyone should pay GST, zero income tax. Then everyone will be taxed based on what they consume
I understand the frustration but think logically..... GST is on stuff u buy.....there is some basics stuff u need to buy ie daily use product, food, travel, health...this is same for everyone but becomes big portion of expenditure for poor people as compared to rich.....eg If a begger earns 100rs and spends 50rs per day on food and pays 5rs gya on it...that is his need..... If a rich person earns 1000rs per day...what at max can he spend on food daily.....100rs...200rs...not more than that.....even after paying GST the rich guy saves more
Stupidest thing i ever heard ... i earn 1 crore and you earn 10 lpa... if we buy rice, car, bike, insurance, soap, oil, food means both pay same price... at end your pocket empty but still mine is 9 times higher than yours ...
Correct. I live in Germany, a country with high income tax rate and 25 % tax rate on Share market gains. BUT there is Zero tax on gold sold after holding for a year and zero tax on property sold after being held for more than 10 years. The system is designed to guide people towards safe and stable investments. In India government wants everybody to buy a Sip and then tax it. Nirmala madam copied German idea of taxing share market gains, but did not adapt the idea of exempting gains from gold and housing.
Yes we should be rational....and this rationale leads people expecting employee paying 30% tax and Employer has tax holiday of 5 to 10years, then a tax of 18% to 21%..... great rational thinking
Hear me out My solution.... Increase the tax bracket according to inflation....eg If inflation increase by eg 10% per year the tax bracket should also increase by 10% ie if a person earing 7 lakh pays zero tax....next year person earing 7.7lakh (7 lakh + 10% of 7 lakh ) should pay zero tax Otherwise If i earn 100 rs Tax-- 30% direct tax Spending on basic needs 50rs....GST on it 5..... Total savings 100-30-50-5= 15rs Next year same thing will happen but now the 50rs basic needs stuff costs 55 rs.....GST is 5.5rs..... Saving is 100-30-55-5.5=9.5rs Next year Basic needs 60.5 , GST 6rs Saving 100-30-60-6=4rs Government miss management of funds , corruption causes inflation.....as a result we have to pay more money for same stuff and even need to extra GST (because of inflation)...... Eventually savings decrease and thats how people become poor
There should be a mechanism to crack down on the parallel cash economy. It has been seen that people employed in the unorganized sector are earning more than the organised sector and paying zero direct taxes and also tend to have a higher purchasing power
Tax rates Should be Upto 8lakhs Nil 8.1lk-15 lakhs 5% -20lakhs 10% 20_25 should be 15% 25-30should be 20% Above 30 lakhs should be 25% Ideal tax rates Then every one will be happy
One thing to know here Expectations always hurts. I have no hopes and no expectations on this lady (Nirmala SeethaRaman). End of the talk. -Your's Faithfully Middle Class Income Tax Payer
Nirmala Sitamoron will not reduce taxes at any cost and consumption will lower further and economy and GDP will go down. Nobody can stop that..... India is heading towards bankruptcy. I have been saying this since year 2014.
Reduce my taxes. I pay 4 - 5 months salary to Govt in Taxes. We all know how efficently govt uses that money ro grow GDP and help consumptiom. Give money in my hand. I will invest, take vacations, buy electronics. GDP will move on its own.
Revdi after revdi of all parties including BJP big time is being paid by 2% tax payers of India most of whom are Hindus but we Hindus are happy yelling master stroke master stroke while al our tax money from temples & 2% Hindus would go towards revdis & salaries of Imams, madrasa teaching inhumanity & pastors.
10 Years ago you paid zero tax for 5 Lakhs with deductions now 5 of 2014 lakhs = 10 Lakhs only based on gold price appriciation so today ten lakhs should be tax free only by way of Inflation adjustment even at 7 % inflation you get to twice of lakhs and this well read guy is only talking of 7 lakhs and people like him advice FM so common people have hopeless people like this fellow giving ponters to Govt - Ten lakhs should be free - 10 - 25 should be 10 Percent for 25 lakhs and 40 can be 15 Percent tax above 40 lakhs should be straight 20 percent this is the right slab only based on inflation from 2014 anything more than this Govt is cheating people
Do u think gov. Is not aware of it?......they know.....with inflation the price of goods increase and so does increase the GST over it....... government know but there are there to leach on your.....not to help u
Exemption limit must be increased every year in direct proportion to inflation rate. Actually tax should be imposed on expenses and paper money should be withdrawn so that every transaction can be traced out. It is a common sight that majority not paying income tax are spending many folds of exemption limit. Because, all incomes are not accounted nor recorded . If taxes are on amount spent , the money earned through unaccounted means will also be subjected to taxation provided all transactions are digital only.
Developed countries slash 40% tax from income provide better Infrastructure, Top class medical facilitaties, Free education India: 30% tax no extra facilities, provide unncesaw free schemes with DBT political gains, no free public transport, worst roads and infrastructure, pay Indirect taxes
@dtvind No. Inflation stable or decrease. Inflation creating by syndicates. Govt. entertaining them. Now Agriculture tax 0%, are we getting everything at lower price. Agriculture tax 5% should implement, burden come down on middle class taxpayers. Again collected agriculture tax spend on farmers, not on celebrities and bigshots who hv agri lands.
What are you offering in return ? Bad roads , poor infrastructure, worst digitalization. On what grounds are you asking that people who are earning about 25 lakhs should pay 30%. Tax maifia driven by Modi and Congress governments.
No tax for Ministers MP MLA Panchayat councilors etc since they are poorest of the poor . Tax for Jawans Border security force and Military Air force Navy personnel pensioners etc since they do only security service . Reservation for the post of MP MLA councillors ministers Keith and kin . Example nehru Indra rajee Ragul karuna stalin innbanithi chidambaram karthi Durai etc A
Income boom..its like a joke😂😂. Last 10 years. Comgress Garib garib ko choosta hain Aese hi BJP middle class ko chooste hain. Chooce is yours where you want to say. These Elite class enjoying all benefits in name of Garib and middle class.
As nations move towards protectionism it is imperative to raise domestic consumption to maintain buoyancy in economic activity and its growth. Thus idea to raise rates in a progressive manner is appreciated. High slab of 30% should begin at an annual income of 36 lakh. A starting level of 3 lakh income per month seems reasonable and would provide a huge fillip to the gasping economy.
Now the Media, starting to talk about rationalise tax completely manipulating what they were talking about tax reduction. till the time budget comes, news and media will justify this high taxes and the need of it.
We need to Increase the No of TaxPayers and Decrease the Individual Tax burden - Not the other way around... Collect 5% only , But do it from every single earning individual instead of from 2% of the country... To top it off - Cut Govt spendings on Freebies - Drastically cut down the amount of Govt Jobs... Abolish Pension... Increase Education , Defence and Healthcare Budget... Invest heavily on Public transport like Trains , Trams and Light Rail....
Govt wants us to spend and not save. Hence new regime. But FM will hold press and say, savings rate is going down and alarming - I seriously don't understand!!
Konsa sasta nasha karte ho bhai......ek baat aap he btow if u have to pay this much tax....and you know you can earn this much.....then u will leave india tomorrow only.....that's that's how people who can create job leave india
This govt is good at raising the expectations by hype and then giving peanuts to citizens. 1. IPC got rebranded as BNS without changing anything promisingly. 2. VAT was replaced with GST without making it any simpler 3. Note bandi was complete chaos altogether.
Cost of living is very high in india,especially in cities like mumbai,delhi,bangalore,chennai, etc. For a family of 4, avg expense is minimum 20k-25k for rent, 25k for other expenses. so 50k will go into expenses. Middle class people find it difficult to live.To save 50-75 lakh they need to work for 20-25 years.
15 lacs free doesn't seem to be happening this time.... The best at present would be, No tax: 12 lacs = 11 lacs+01 lacs std. Deduction. 15-20 lacs: 25% tax. 25+ lacs:30% tax. Most common pay is around 2lacs per month.....
Cut petrol tax. Enable work from home. Bring law to evict squatters on rental property. This will reduce property prices. Also, raid black money of builder mafia.
In Hyderabad, rents go up to 45k near office locations. What would anyone be able to save if rents are that huge. Also ,if there is only one earning person it's impossible to live
Why can't tax slabs be linked to inflation indexing.. So atleast if a person gets a bare minimum hike equivalent to 4-5% which is almost zero hike when compared to inflation,he should not be paying higher taxes for an effective salary increase of 0 INR. BASIC MATHS FM MADAM
Section 80c should be scraped. Seperate deduction should be made available for life insurance premium upto Rs.50000.00. Separate section for investment under SPF/PPF etc upto Rs.1 lakh. Deduction under 80D should be increased to Rs. 50000.00. Interst on housing loan and repayment towards housing loan should be clubbed. All eligible investment made should appear in AIS. 26AS. HRA exemption should be scrapped.
Its a conundrum. If they cut tax people will have more tax. Demand will increase if supply didn't caught up inflation will increase. If they keep high tax people will have less money. Then people will try to save instead of spending more hence slow down in economy. They need to maintain equilibrium
Incorporate a family structure like in other countries i.e Individual and Married having children. For Individual having income from salary :- A standard decution of 100000 0-5 lac -----Nil 5-10 lac -----5% 10-15lac ---- 10% 15-20lac -----15% 20-25lac----- 20% 25 above---- 25% For Married Having Children :- Same slab with standard deduction of 100000 and a extra deduction of 150000 per child upto two only. This would be helpful for families and would ease the burden of rising school fees and education expense and keep HRA AND Disability Deduction. and apart from this Remove all other deductions no old no new scheme.. Plus these standard deduction would only be available to salaried individual and not to any other head of income.
After 25 to 30% why again gst Tax,,,trade license,,,property tax,,,Cess education tax,,,long term tax,,,short term tax,,,shop board display tax....buying any personal item again gst tax...late fees interest.....road tax....toll tax...
Never ever vote for BJP, we regret to voted this BJP Party so far. Their true face is supporting only Adani and Ambani's, British rule might be better, this government looting hard working middle class people, but middle class need to pay for education, medical and access even road need toll tax
Maximum tax should be 25 percent and not 30 percent...how can personal taxes be more than corporate taxes...secondly ltcg taxes should be removed completely to encourage long term investments..
have lost all hopes from this government..I am sure they will increase GST and increase LTCG tax. They are the ones who first started taxing LTCG and now increased tax to 12.5%, they might now increase this tax to 20-30% with no indexation benefit. So investing in stocks and mutual funds is also not profitable. The idea is to keep the middle class always in the middle, so they never become rich and keep working till death. Shameless government to lower corporate tax and increase tax on LTCG, increase GST, tax on insurance schemes etc. All tax simply goes as salary to government employees. Services like somalia and tax more than US. Tax terrorism! Arrogance at it's keep! I hope this goverment does not come back!
Personal income tax has slabs but not on corporate taxes they will pay from first one rupee
In EU taxes could go as far as 45%
My comment was deleted! Because I spoke of LTCG tax without any indexation benefit.
India is not EU and the pay is not.that much and more than 70-90% pay taxes in EU@@SafavidAfsharid3197
Highest tax slab should be for rich. 20 lacs income in Mumbai, Delhi, Bangalore is not rich.
No, they will take the money out of the country.
We need to allow them to flourish, but tax on luxury products must be high.
Exactly
Tax minister😢
But whose gonna tell? Even this tax expert thinks that drawing 20 lakh in cities like Bengaluru, Mulbai, Delhi, Hyderabad can be taxed at 25%!
20 LPA is in india would place you in the top 5% that by defination is being rich.
All M.L.A And M.P should be made taxable on salary and pension.
They cannot. Because as per Income Tax Act to consider income as salary there should be employer and employee relationship. And MP / MLA are not employees of the government, they are representative from their constituency.
Better no need of salary for theml...they are all super dooper rich na
@@samuelgeorge3823 anyway they don't need any monetary benefit. They work day and night only for the welfare of common citizen of the country as we all know. Isn't it?
Do you think MPs and MLAs join politics for salary 😂😂😂 fools
@@sarangbhagwat4322 They need to change the rule then.
DON'T EXPECT FROM THIS WOMAN. PEOPLE ONLY EXPECTING DURING THE LAST 5 YEARS
😂😂😂😂
Right
Sahi
30% should be at 30 lac above
Wtf? Be pratical
@@TAMIL_NIFTY50 Really ? For practicality lets increase LTCG to 30% with no indexation benifit so the middle class remains in the middle and never gets rich and stops investing in stocks and mutual funds! I payed a GST of 5000 on my health insurance of Rs 15000. GST is also tax! If I sum up my income tax and GST per year, I am giving more than 40% as taxes to the government, being from lower middle class.All our tax goes to government employees salaries which are increasing astronomically. A govt peon earns 60K per month, whereas my nephew who is an engineer now earns 55K per month! Is it very practical to lower corporate taxes ? In US, UK people who earn more than a million dollars come in the 30% bracket, whereas here 15Lacs is enough to reach that bracket! You must be a corporate or a rich person to say that 30% is very practical for 15 lakhs!
@@giyer8325 be pratical.... India has 315 lakhs crore debt.... I except huge taxes like previous budget...
@@TAMIL_NIFTY50 only 2.2 % of Indians pay taxes.. You want yo milk only tax paying individuals... Whu dont you build process to make 100% Indians tonpay taxes and it should br lesser percentage
@@RisingSunLR yes... Only 2% indians pay income tax... They must be pay high...
In top cities like Delhi, Mumbai, Bangalore, Chennai, Hyderabad etc, there should be no tax up to 10 lakhs as people hardly can save anything for there future contingencies with that income or even not able to buy a home in life time..
Maximum tax slab should be 25% and that too above 25 lakhs income
Nirmala Sitharaman is having some vengeance with middle classes, though she claims to be coming from the middle class.
She believes that salaried people can be looted as done in the past and can be taxed to 98%
She is the only Finance Minister who has consistently burdened the middle class to a great extent.
The lowest rated minister in BJP govt. Will not vote for BJP in the next election.
Very True, we people voted Modiji, but he brought back same F M who don't know increase in cost of Living. Very rude behaviour.
Logically speaking…if Nirmala Sitaraman is from a middle class background how come she has become politician and finance minister…🤔I pity on your innocence.😢
PM Modi is responsible… She is just a puppet….
Nirmala Sita raman is the only FM who burdened middle class tooo much. She is not considering increased cost of living.
Not Sitaraman she is Taxraman.
PM Modi is responsible… She is just a puppet….
I have been looking at these kind of changes since i started earning 6lakhs atleast 20yrs back. With only few more yrs left for my retirement, i dont think this dream will be in lime light. Givt can only punish middle class
India is a consumption based economy. And Nirmala Sitamoron is killing consumption with income taxes. Politicians never listen to economists and that's why many countries face bankruptcy
why are guys so hopeful everytime before the budget and get hyped.. its 100% disappointment after every budget
No not 100% disappointment but 200% because taxes will increase
Instead of expecting taxes reducing, middle class better leave this country for better life
Tax the farmers driving land rovers benz g class , this is getting ridiculous 😠
Don't say anything about farmers.....they are vote bank......
@@lavichawla1917correct 😂😂😂
What Benz ? Poor farmers are buying helicopters to " deliver milk" ...google up !!!
They are the backbone of the country.
@@tbraghavendran Koi logic hai thumari baat ka? Explain yourself
Reduce tax rate for salaried class....to cover up the loss.....put tax on farmers earning more than 50 lakhs .......this way you will increase the no. Of ppl filing return
Govt will never do this
This is dramma. Corporates never ask relief to below 5 crore earning people.
Finance minister never bother about middle class people. So, no relief is expected to 15 - 5 crore earning people
Cut and polished diamonds is just 1.5% (Saving Gujjus)
And tax 18% for most of the toiletries and services😂
Shameless govt
The Beniya Gujjus are the most Dangerous Species in Earth..
All over world bullion taxes are less because it's easy to smuggling
Yess
Government need to work on tax policies And Should Need to increase salaries of every indivials
All land owners who are big land owners in India and who are owning most highly paid motar vechiles shoud be made fix income tax every year
No tax cuts only increase, add, and enhance .
Middle class will not forget this.
Government must stop sucking blood in form of tax and GST.
Why only service class should pay all the tax?
Are you kidding? 25 lakhs income is considered below poverty line in the USA. At least they get benefits for what income tax they pay. Completely remove income tax. Everyone should pay GST, zero income tax. Then everyone will be taxed based on what they consume
I understand the frustration but think logically.....
GST is on stuff u buy.....there is some basics stuff u need to buy ie daily use product, food, travel, health...this is same for everyone but becomes big portion of expenditure for poor people as compared to rich.....eg
If a begger earns 100rs and spends 50rs per day on food and pays 5rs gya on it...that is his need.....
If a rich person earns 1000rs per day...what at max can he spend on food daily.....100rs...200rs...not more than that.....even after paying GST the rich guy saves more
Agree
Then gst on essential make 0 or minimal @@lavichawla1917
Stupidest thing i ever heard ... i earn 1 crore and you earn 10 lpa... if we buy rice, car, bike, insurance, soap, oil, food means both pay same price... at end your pocket empty but still mine is 9 times higher than yours ...
It should be
2% till 10akhs-
5% till 15 lakhs
10%till 20lakhs
Without rebates (if reqd)
Nahi 😂😂
Sapne sajan ke😂
Really, Direct taxes are not reasonable under current slabs. Government should understand the cost of living has drastically increased.
Best Video this Republic Day SALUTE ..... LIKE FOLKS WHO ALL MIDDLE CLASS PEOPLE LIKE ME WHO PAY TAXES BEFORE SALARY SINCERLY
My suggestion
5. percent 10 to 15 lacs
10 percent 15 to 30 lacs
15 percent 30 to 50 lacs
20 percent 50 to 75 lacs
25 percent 75 to 2.0 cr
30 percent. 2.0 crazy to 50 cr
50 percent 50.0 cr to limitless
This suggestion is wrong idea ….
Correct. I live in Germany, a country with high income tax rate and 25 % tax rate on Share market gains. BUT there is Zero tax on gold sold after holding for a year and zero tax on property sold after being held for more than 10 years. The system is designed to guide people towards safe and stable investments. In India government wants everybody to buy a Sip and then tax it. Nirmala madam copied German idea of taxing share market gains, but did not adapt the idea of exempting gains from gold and housing.
Remove panwala yojanas which is wasting common people money
Salaries of government employees are too high comparing to common man.
Yes we should be rational....and this rationale leads people expecting employee paying 30% tax and Employer has tax holiday of 5 to 10years, then a tax of 18% to 21%..... great rational thinking
Abolish direct income tax completely.
Hear me out
My solution....
Increase the tax bracket according to inflation....eg
If inflation increase by eg 10% per year the tax bracket should also increase by 10% ie if a person earing 7 lakh pays zero tax....next year person earing 7.7lakh (7 lakh + 10% of 7 lakh ) should pay zero tax
Otherwise
If i earn 100 rs
Tax--
30% direct tax
Spending on basic needs 50rs....GST on it 5.....
Total savings 100-30-50-5= 15rs
Next year same thing will happen but now the 50rs basic needs stuff costs 55 rs.....GST is 5.5rs.....
Saving is 100-30-55-5.5=9.5rs
Next year
Basic needs 60.5 , GST 6rs
Saving 100-30-60-6=4rs
Government miss management of funds , corruption causes inflation.....as a result we have to pay more money for same stuff and even need to extra GST (because of inflation)......
Eventually savings decrease and thats how people become poor
Very pertinent points Sir, which immediately need to be implemented. We are getting squeezed. Max tax slab should start after 25/30 Lacs.
Very well said about middle class
Finance minister looks arrogant and she stick to high taxes structure as she enjoys taxing middle class
Well said please convey this message to FM she feels india is running by her
" UP TO 75 LACKS 0 % IMCOME TAX HELPS IT EMPLOYEES "
Most cursed FM in the history of India politics- Nirmala sitaraman .
Very very true
very good suggetion , midle class will drive the economy
Taxes like Singapore.
Infrastructure, Public services like Pakistan.
There should be a mechanism to crack down on the parallel cash economy.
It has been seen that people employed in the unorganized sector are earning more than the organised sector and paying zero direct taxes and also tend to have a higher purchasing power
Excellent suggestion
Tax rates
Should be
Upto 8lakhs Nil
8.1lk-15 lakhs 5%
-20lakhs 10%
20_25 should be 15%
25-30should be 20%
Above 30 lakhs should be 25%
Ideal tax rates
Then every one will be happy
One thing to know here Expectations always hurts. I have no hopes and no expectations on this lady (Nirmala SeethaRaman). End of the talk.
-Your's Faithfully Middle Class Income Tax Payer
Nirmala Sitamoron will not reduce taxes at any cost and consumption will lower further and economy and GDP will go down. Nobody can stop that..... India is heading towards bankruptcy. I have been saying this since year 2014.
Reduce my taxes. I pay 4 - 5 months salary to Govt in Taxes. We all know how efficently govt uses that money ro grow GDP and help consumptiom.
Give money in my hand. I will invest, take vacations, buy electronics. GDP will move on its own.
Superb sir
This govt is bankrupt.
Revdi after revdi of all parties including BJP big time is being paid by 2% tax payers of India most of whom are Hindus but we Hindus are happy yelling master stroke master stroke while al our tax money from temples & 2% Hindus would go towards revdis & salaries of Imams, madrasa teaching inhumanity & pastors.
10 Years ago you paid zero tax for 5 Lakhs with deductions now 5 of 2014 lakhs = 10 Lakhs only based on gold price appriciation so today ten lakhs should be tax free only by way of Inflation adjustment even at 7 % inflation you get to twice of lakhs and this well read guy is only talking of 7 lakhs and people like him advice FM so common people have hopeless people like this fellow giving ponters to Govt - Ten lakhs should be free - 10 - 25 should be 10 Percent for 25 lakhs and 40 can be 15 Percent tax above 40 lakhs should be straight 20 percent this is the right slab only based on inflation from 2014 anything more than this Govt is cheating people
Do u think gov. Is not aware of it?......they know.....with inflation the price of goods increase and so does increase the GST over it....... government know but there are there to leach on your.....not to help u
This is the best calculation ..
Why should be any tax on the salary? Balance the collection from GST.
Exemption limit must be increased every year in direct proportion to inflation rate. Actually tax should be imposed on expenses and paper money should be withdrawn so that every transaction can be traced out. It is a common sight that majority not paying income tax are spending many folds of exemption limit. Because, all incomes are not accounted nor recorded . If taxes are on amount spent , the money earned through unaccounted means will also be subjected to taxation provided all transactions are digital only.
Developed countries slash 40% tax from income provide better Infrastructure, Top class medical facilitaties, Free education
India: 30% tax no extra facilities, provide unncesaw free schemes with DBT political gains, no free public transport, worst roads and infrastructure, pay Indirect taxes
Taxing 3 lakh a year income. Thats greed.
Agriculture tax: 5%
Trusts: 10%
Political parties: 15%
Salary income:
0-6 lk: 3%
6-12 lk: 9%
12-18 lk: 15%
18-24 lk: 20%
24-30 lk: 25%
above 30 lk: 30%
Market gains:
0-2 lk: 0%
2-10 lk: 6%
10-20 lk: 12%
20-40 lk: 18%
above 40 lk: 25%
Agriculture 5% wil lead to inflation 😂
@dtvind
No. Inflation stable or decrease.
Inflation creating by syndicates. Govt. entertaining them.
Now Agriculture tax 0%, are we getting everything at lower price.
Agriculture tax 5% should implement, burden come down on middle class taxpayers.
Again collected agriculture tax spend on farmers, not on celebrities and bigshots who hv agri lands.
What are you offering in return ? Bad roads , poor infrastructure, worst digitalization. On what grounds are you asking that people who are earning about 25 lakhs should pay 30%. Tax maifia driven by Modi and Congress governments.
No tax for Ministers MP MLA Panchayat councilors etc since they are poorest of the poor .
Tax for Jawans Border security force and Military Air force Navy personnel pensioners etc since they do only security service .
Reservation for the post of MP MLA councillors ministers Keith and kin .
Example nehru Indra rajee Ragul karuna stalin innbanithi chidambaram karthi Durai etc
A
Bring Agriculturist earning 20lakh + under Tax Net
Income boom..its like a joke😂😂. Last 10 years.
Comgress Garib garib ko choosta hain
Aese hi BJP middle class ko chooste hain.
Chooce is yours where you want to say.
These Elite class enjoying all benefits in name of Garib and middle class.
Just 1 tax lo ,take gst or take income tax
Reduce the government size,
Strengthen Local bodies,
Taxes can be reduced.
As nations move towards protectionism it is imperative to raise domestic consumption to maintain buoyancy in economic activity and its growth. Thus idea to raise rates in a progressive manner is appreciated. High slab of 30% should begin at an annual income of 36 lakh. A starting level of 3 lakh income per month seems reasonable and would provide a huge fillip to the gasping economy.
Now the Media, starting to talk about rationalise tax
completely manipulating what they were talking about tax reduction. till the time budget comes, news and media will justify this high taxes and the need of it.
I expect government to implement DTC and mercilessly tax middle class. At the end of 2025 MC will be left with a begging bowl.
With this last FM we can't expect anything. She does what she feels...
Upto 15 lak be not taxable.
We need to Increase the No of TaxPayers and Decrease the Individual Tax burden - Not the other way around...
Collect 5% only , But do it from every single earning individual instead of from 2% of the country...
To top it off - Cut Govt spendings on Freebies - Drastically cut down the amount of Govt Jobs...
Abolish Pension...
Increase Education , Defence and Healthcare Budget...
Invest heavily on Public transport like Trains , Trams and Light Rail....
Govt wants us to spend and not save. Hence new regime. But FM will hold press and say, savings rate is going down and alarming - I seriously don't understand!!
Annual income more than 100 crores should.pay 80% of annual income
Konsa sasta nasha karte ho bhai......ek baat aap he btow if u have to pay this much tax....and you know you can earn this much.....then u will leave india tomorrow only.....that's that's how people who can create job leave india
This govt is good at raising the expectations by hype and then giving peanuts to citizens.
1. IPC got rebranded as BNS without changing anything promisingly.
2. VAT was replaced with GST without making it any simpler
3. Note bandi was complete chaos altogether.
80CCC slab should increase, so that people will think to invest more, indirectly it will help in economy grow. 30% should apply above 30 lakh.
Cost of living is very high in india,especially in cities like mumbai,delhi,bangalore,chennai, etc.
For a family of 4, avg expense is minimum 20k-25k for rent, 25k for other expenses.
so 50k will go into expenses.
Middle class people find it difficult to live.To save 50-75 lakh they need to work for 20-25 years.
15 lacs free doesn't seem to be happening this time....
The best at present would be,
No tax: 12 lacs = 11 lacs+01 lacs std. Deduction.
15-20 lacs: 25% tax.
25+ lacs:30% tax.
Most common pay is around 2lacs per month.....
Cut petrol tax. Enable work from home. Bring law to evict squatters on rental property. This will reduce property prices. Also, raid black money of builder mafia.
FM be like 150 rupaya dega
Ae dil mange reasonable ! 😊
Nothing is going to be changed or happened
Exactly,🙂
In Hyderabad, rents go up to 45k near office locations. What would anyone be able to save if rents are that huge. Also ,if there is only one earning person it's impossible to live
Stay away from offices location.
2047 target to be Viksit Bharat....but only 2-3% of entire population pay Income Tax......What an irony!!!
When you take so many indirect tax impose,what needs to deduct income tax
Why can't tax slabs be linked to inflation indexing.. So atleast if a person gets a bare minimum hike equivalent to 4-5% which is almost zero hike when compared to inflation,he should not be paying higher taxes for an effective salary increase of 0 INR.
BASIC MATHS FM MADAM
0 expectations on this dumb FM budgets.
Useless government in the history of India i feel
Section 80c should be scraped. Seperate deduction should be made available for life insurance premium upto Rs.50000.00. Separate section for investment under SPF/PPF etc upto Rs.1 lakh. Deduction under 80D should be increased to Rs. 50000.00. Interst on housing loan and repayment towards housing loan should be clubbed. All eligible investment made should appear in AIS. 26AS. HRA exemption should be scrapped.
After coming with 8 th Pay Commission, income tax payers should not expect major relief from finance ministry.
If you tax same for all say 10% and say 50% can invest without paying tax, more money will flow to market which will help economy.
Expecting relief from the Shylock ?
Its a conundrum. If they cut tax people will have more tax. Demand will increase if supply didn't caught up inflation will increase. If they keep high tax people will have less money. Then people will try to save instead of spending more hence slow down in economy. They need to maintain equilibrium
Why would government care for less than 5% population who pay tax?
pity our FM don't understand this logic
99% gst should be on on all direct and indirect tax...if you want to grow economy ❤❤❤
No hope in the present government, though no alternative is in sight.
Incorporate a family structure like in other countries i.e Individual and Married having children.
For Individual having income from salary :- A standard decution of 100000
0-5 lac -----Nil
5-10 lac -----5%
10-15lac ---- 10%
15-20lac -----15%
20-25lac----- 20%
25 above---- 25%
For Married Having Children :-
Same slab with standard deduction of 100000 and a extra deduction of 150000 per child upto two only. This would be helpful for families and would ease the burden of rising school fees and education expense and keep HRA AND Disability Deduction. and apart from this Remove all other deductions no old no new scheme..
Plus these standard deduction would only be available to salaried individual and not to any other head of income.
Please educate the senseless finance minister.
This old woman is mad
Nothing gonna happen as usual😢
After 25 to 30% why again gst Tax,,,trade license,,,property tax,,,Cess education tax,,,long term tax,,,short term tax,,,shop board display tax....buying any personal item again gst tax...late fees interest.....road tax....toll tax...
Taxes are for politicians too.... Why not they???? Rule is Rule.. Rule for All(Including Politicians)
How effeciently the tax money is used?
Reduce the luxury to leaders
Never ever vote for BJP, we regret to voted this BJP Party so far. Their true face is supporting only Adani and Ambani's, British rule might be better, this government looting hard working middle class people, but middle class need to pay for education, medical and access even road need toll tax
Budget is always decided as per Government Profit, because Tax more will make Government Grow More