Request to PM for Relief in IT for FY 2020-21

Mr.Shakti Goel...Looks like you do not know English. Read my comments carefully and then comment. I have never said that the government is wasting money on defence purchases. I have said the Government needs money for defence purchases. more  

Do IT payers have a voting lobby ? Farmers have it, poor & middle class have it. Form a group and bargain. more  

Mr. Mohit has suggested a solution to improve economy by seeking exemption of I-Tax for the FY 2020-21 only. Development is not stopped, but slow down. The first important step is to get started the production and consumption which could be helped by putting money saved from the I-T exemption in the hands of consumers. more  

If the Government goes on giving relief and compensations where is the money for development or for purchasing defence equipments when two enemies are breathing down our necks. more  

What a ridiculous and childish idea. First of all 130 crore population of India don't pay individual income tax. Tax payers are only about 6.5 crores secondly you are asking exemption from Income Tax for the FY 2020-2021 which is in continuation. If you are intended for the FY 2019-2020 then almost every person had earned with his or her full earning capacity for more than 355 days excluding the period of lockdown so where is the loss to any person due to Covid19 and it's not possible that the total earnings of an individual would be generated only in those last 10 days of the financial year when there was lockdown in the country. Hence when a person had earned during the year then its his or her liability to pay his or her tax honestly during this pandemic time when there is urgent need of money to the government to fight against Covid. Now if you are intended for exemption for the FY 2020-2021 then the year has not been ended and still seven months are there to decide the actual position of individual personal incomes. Moreover if there are losses in income during the FY 2020-2021 then its obvious that individuals would pay their income tax according to their income (less or more from previous year) and government has already announced lower tax slabs for the FY 2020-2021 by giving option to the assesses to choose the beneficial tax slab for old tax rates or new tax rates. If a person chooses the new tax rate system then there is no need to invest money in tax saving schemes and so an individual can have more money in his or her hand for purchasing. If the public would not pay their taxes then from where we will get these infrastructures or new projects of development etc. As far as purchasing power of an individual is concerned, during lockdown everybody was discussing that after lockdown only essentials would get market share and luxuries and other non essential commodities would be in loss as nobody will have so much money to purchase these items but what happened after unlocking? There were long queues before liquor shops and rich or poor every one was buying liquor at the abnormally higher rates. More sales in automobile sector, electronic goods sector even people are going for picnics and enjoying their life as nothing has happened. In our personal life routine there is no change or reduction in expenses only we have problem in giving taxes to the government. Is it the right way to support our government in this crucial time of pandemic? Is this demand for exemption form income tax genuine and logical? more