Winter is over, Summer incoming

This should help everyone understand the true picture of income brackets Indians fall in, where do viners belong?

Inspite of so many "better than earlier govts" reforms in the last 10 years...the govt hasnt done much needed reforms in the income tax regime. The govt is doing a few good things like dissolving inept psu's, selling off entities like Air India (privatisation), etc. But when and how are we going to increase the tax base?? Why is govt failing to do so? It is high time we rationalise it. We cannot dream of becoming a prosperous country with such poor policies in place https://timesofindia.indiatimes.com/pay-income-tax-be-political-orphans-why-it-matters-for-indias-economy/articleshow/107405605.cms

No tax relief for salaried class. What are your thoughts on the overall budget? What reforms were you awaiting or what do you think are absolutely necessary to uplift the middle/ below middle class of the country?

We have done it. We contribute more to the country in taxes than corporates. Let’s celebrate this historic and absolutely patriotic moment in our broken dreams, in our rented homes, in our over taxed cars, in our pond sized potholes, in our over priced healthcare, in our price gouging education, in our humiliating public & pvt infra, in our barely present desire to live, Pride yourself in what you have achieved and shut your mouth about any criticism you have, for that’s not what you are here for.

https://www.ndtv.com/india-news/shubhkaran-singh-farmers-protest-farmer-killed-in-protest-owned-2-acre-land-took-loan-for-sisters-wedding-5105592

Don’t you think it’s kinda not fair to tax people especially in metro cities who earn less than a lakh a month. The cost of living in these places are already so high and due to that they may not even be able to make any investments. 12 Lakh kinda sets a good entry level for taxes as 1 Lakh is a decent amount to live by I guess. Just looking to hear opinions on why it would not be beneficial that’s all. Not willing to hear or respond to any SJWs who want to act all high and mighty on the internet.

While the last 10+ years of Modi government has largely been to position India as a strategic uprising economy, there is no denying the fact that the Government to a large extent has failed in casting the tax net wide. 1. Yes the year on year tax collection has risen, yes the Consolidated fund of India has improved but even after 10 years of majority rule less than 10% India pays tax. 2. To top it all, looks like the government has taken middle class for a ride. 2.1. For a common man working you not only pay tax on income (this is ok!) but also on every time you spend and now even whatever little on can invest. Let’s first look at tax on Income. Your income tax can vary from 0% to 30%. - For a 30L income, almost 6L would just get wiped in taxes. This is an approximate figure don’t hang me with your CA rope. - For example, if your gross salary is 75L in India despite most standard deductions like 80c, Home loan, interest repayment and medical bills and insurance, a person pays 23L almost as income tax. 23L is a substantial amount & when paid for 5 years (every year) for a lot of us it can become meaningfully life changing. 2.2. Now let’s look at how much do you end up paying in taxes when you spend on goods and services. - - Almost everything has 5% GST. But if you really go line item by line item on all your monthly/ annual spends, your average GST payment would be almost 15%. Put it simply when you 87k as expenses you also pay additional 13k in GST. - - Also every other item would have cess & surcharges. > Case in point just look at airline ticket. Service fee would almost be 8%-15% of your base fare. > When you buy a house you pay the following fees, stamp charges, registration charges and obv we all know nothing happens in registrar offices without something going under the table. Also in case you buy via broker then his fee will also consist of GST at 18% (assuming he invoices his services). Continued in comments