Too much tax for buying home
To buy a house of 1 cr you need to pay 5% GST,Which is 5L lakhs & stamp duty for registration is around 3 Lakhs.
To earn 1cr 8 lakhs you have to pay tax of 38.75 Lakhs (30% + 15% surcharge +4 %cess which is 35.88%)
5L +3L +38.75 L = 46.75 lakhs to govt,it’s almost 50%
To earn 1cr 8 lakhs you have to pay tax of 38.75 Lakhs (30% + 15% surcharge +4 %cess which is 35.88%)
5L +3L +38.75 L = 46.75 lakhs to govt,it’s almost 50%
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What do you expect from the BJP, more taxation for the middle class, more benefits for the rich. Now India has 271 billionaires officially. How many are there unofficially? I see that the BJP are squeezing the middles class to death so they cannot rise above. They give freebies to some poor folk, rice rations which my maid sells and buys better stuff. Who will save us from the corrupt????
Jul 29
Mr Puri  Still people wanta bJP GOVT STRANGE RIGHT SIR On Friday 26 July, 2024 at 02:03:05 pm IST, Mukul Puri wrote:
Jul 28
If you are buying a Property on EMI say for 20 Years, EMI itself will work out very high. With removing Indexation benefit Govt is KILLING Middle Class Citizens. Better Govt must distribute FREE Ration to these Middle Class Citizens, specially to Non Pensioner Senior Citizens.
Jul 26
Calculations aside , the trend is "Why Block Huge money with this kind of Taxes to Buy a house ? Put the money as investment to earn return and stay in a Rented House instead. This move in the Budget will Deter people to Buy a house and spell Doom of the House Building Industry. Looks like this Govt knows it is not going to last long .That is why such foolish short sighted measure to do away with Indexation while determining Capital Gains in all Asset Classes.
Jul 26
