Income tax slab is being decided on what basis?
The limit for no tax is for the people who get income below Rs. 2,50,000 PA. How many percentages of people are coming under this category? If the percentage is high then there should not be any change the limit.
This is just because people whose income is between R.250000 to Rs. 500000, there would contribute their tax amount in tax savings scheme and they would get back their money. This way will actually provide them way to contribute the government for few years and get back their amount.
It is only the person who gets income more than Rs. 500000 really pay the tax which they will not get back and go to the government fund, this category of people are very less. Thinking these point and few economist if contributes more points to my suggestions can create a rule for governments to prepare budget, such that they cannot make changes in these slab rates just to get Votes during election and make the government to face more deficit. more
This is just because people whose income is between R.250000 to Rs. 500000, there would contribute their tax amount in tax savings scheme and they would get back their money. This way will actually provide them way to contribute the government for few years and get back their amount.
It is only the person who gets income more than Rs. 500000 really pay the tax which they will not get back and go to the government fund, this category of people are very less. Thinking these point and few economist if contributes more points to my suggestions can create a rule for governments to prepare budget, such that they cannot make changes in these slab rates just to get Votes during election and make the government to face more deficit. more
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It in deed appears that the government has preferred taxing above 2.5 lakhs income opting subsidies to the real needy that really compensate more in value and , real Family Economic address of lively hood requirements . This also can be considered as a good plan simultaneously the befitting investment plan as stated by Sri Brindha Baskaran Please . more
Feb 29
People fail to do investments. This slap rate will force them to do their investment which will help their children in future. If savings are important then this slap rate should not be changed for ever. Sir, might be right but my view is this. more
Feb 29
The Income Tax basic / minimum Slab shall be such Income based that there shall be minimum of children Education Fee , Family food and Medicines and , the House Rent and hence , Rs.2,50,000/- shall be increased accordingly even by Region based . more
Feb 29
