Sunday, February 1, 2009

Indian Government taxing salaried people through Tax

In this forum, I would like to touch upon the tax system in India.
Let me start with some statistics… Take for Instance I live in Bangalore and my salary is 10,00,000 p.a.
Taxable Income - 1000000
30% tax on it - 300000
Annual house rent - 168000
Car loan - 120000
Children School Fees - 100000
Household expenses (min) - 60000
Commutation expenses - 36000
For my Parents in Chennai - 60000
Personal loan for my sis wedding - 120000
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Balance amount I am left with - 36000 P.A (3000 per month – just PEANUTS!!!!)

This is all is my saving when i earn an annual salary of 1000000. What about my medical emergencies, family emergencies, my travel expense... I need to visit my parents once in a month (even by train.. for 3 people.. it costs more than 1000 rs.). Everytime i visit a Dr. i need to shell out minimum of Rs.500/- Don't I have to buy new clothes for my kid, show her new places, teach her new things... I am bankrupt by the end of the month.

PITY SALARIED PEOPLE WHO ARE WORKING IN INDIA! Now I think twice, is my patriotism worth it! To live in this country of politicians who are stealing my money. For all the tax I pay, what is the government paying me back – not even basic Security. I still cannot travel safe in bus, train, anywhere… I am not talking about the terrorism. I am talking about the other nuisances from rowdies, theft and etc.. and etc..
WHY IS THE GOVERNMENT EXPLOITING THE SALARIED PEOPLE!!!! We have no money to pay you this much tax… I AM POORER THAN BEFORE EVEN AFTER EARNING SO MUCH!!!! DOES THE INDIAN GOVERNMENT EVER THINK OF HOW TAXING IS IT FOR THE SALARIED PEOPLE .... SHOULD I LIVE A MIDDLE CLASS LIFE THROUGHOUT MY LIFETIME.... EVEN AFTER EARNING HIGH DEGREES AND WORKING IN MNC! WITH ALL LIBREALISATION, GLOBALISATION, NEW OPPORTUNITIES AND ETC. ETC... INDIAN ECONOMY MIGHT HAVE IMPROVED BUT NOT COMMON MAN LIKE YOU AND ME. DO BUSINESS MEN, POLITICIANS AND GOVERNMENT OFFICIALS PAY ANY PROPER TAX.... ONLY SALRIED PEOPLE ARE PAYING HEAVY TAX WHICH INCLUDES FOR EVERYBODY ELSE... WE ARE THE ONES AFFECTED BY THIS FILTHY TAX SYSTEM ...
A REAL TAX SYSTEM IS ONE WHICH WILL CHARGE ME FOR THE MONEY I AM LEFT WITH POST ALL MY EXPENSES.... THE 300000 THAT GOVERNMENT HAS TAKEN (STOLEN) AS TAX IS MY ACTUAL SAVINGS... YOU CAN LEVY 30% ON IT AND GIVE ME THE BALANCE 2,10,000 BACK TO ME... I AM HAPPY TO GIVE THAT 90000 FOR COUNTRY'S DEVELOPMENT...
THEY SAY THE TAX GOES TO THIS AND THAT... BUT WHERE... WE DON'T SEE IT. I STILL PAY TAX FOR THE ROAD, FOR MY CAR, FOR THE HOUSE, FOR THE ROAD, FOR THE HIGHWAY I USE, FOR THE WATER, FOR EVERY THING THAT I BUY / USE, I PAY TAX (VAT).... APART FROM THE 300000 I HAVE ALREADY PAID TO GOVERNMENT!!!!! DON'T ANYONE REALIZE THIS.... I AM STILL POOR EVEN AFTER EARNING 1000000 AS MY SALARY PACKAGE... WILL CHIDAMBARAN... OR ANY OTHER **** SITTING THERE IN PARLIAMENT EVER THINK OF COMMON MAN'S PLIGHT ATLEAST ONCE IN THEIR TENURE...
THIS IS THE REASON CORRUPTION IS ON ITS HIGH... WHERE IS MY MONEY GOING.......... ATLEAST REMOVE TDS from the system. We will tell you how much we earn and how much we save / left out with and accordingly pay tax…
Do not show investments as a saving… I don’t have liquid cash for my day to day expenses. And the investments I make also, at the end of its tenure when I get back, it is taxed. We have saved those money to save from tax. Again if we pay tax on that income.. It is ridiculous!! Again even my performance BONUS is also taxed!!! What is this yar… It is the money company is giving me for my hard work… Why should government take that money also… I am totally totally FRUSTRATED!!!! This is the WORST and **** system we are in.