Personal income tax slabs likely to be rationalised, salaried class may get relief, more money; move aims to boost spending
Introduction of 10% tax rate for salaried people who earn between Rs 5 lakh and Rs 10 lakh is one of the recommendations
Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group
Apart from being unjust to the middle class, it is the steep rate of tax that tantalises people to split their income
Rationalise regime of standard deduction for salaried class; keep highly paid CEOs out of this facility
Standard deduction for the salaried class in its new avatar is one-size-fits-all — it is the same for both the CEO of a company and his lowly minion at the bottom of the heap.
Income Tax Department's warning to the salaried against bogus refund claims smacks of inept assessment
Pleading and issuing warnings smack of ineptness, an ineptness in making a proper assessment of refund claims filed through income tax returns (ITRs).
The Income Tax Department on Wednesday cautioned salaried class taxpayers against using illegal means like under-reporting of income or "inflating" deductions while filing their returns, stating violators will be prosecuted
PF rate retained at 12%: Why don't employers contribute 14% and employees 10% to maintain status quo
Modi’s promise of rewarding the salaried class with tax refund for their exemplary tax compliance from out of the proceeds of successive tax amnesty schemes has remained a mirage and a tall promise
Arun Jaitley would have won the hearts and minds of the middle class had he completely spared from income tax those whose income is not more than Rs 5 lakh
The slaried is paying higher fees and cross-subsidising Right To Education; the government should allow full waiver of tuition fees without any cap
The omnibus tax impetus scheme for savings and investments section 80C has long remained a one-size-fits-all scheme. It is time it shed this approach
Although there is a higher limit of deduction for senior citizens for medical insurance but for the day to day medical needs there is no deduction
Finance Minister Arun Jaitley did not really bring in acche din for the salaried class as the income tax slabs remain unchanged but it did offer some respite by doubling monthly transport allowance ( which is tax free) to Rs 1600 as well as offering deductions under section 80 (D)
The finance minister wants you to save more for your twilight years; pension funds and health insurance firms are the biggest beneficiaries.
The qualifying fixed deposit tenure can be reduced from five years to three years.
Taxes cannot be done away with completely except in countries blessed with nature's bounty. Nature has been kind to the Middle East so much so that the UAE has never felt constrained to tax its people with personal income tax.<br /><br />