seedhi Posted February 28, 2015 Posted February 28, 2015 Abolishment of wealth tax is a good move and long overdue. Since very few people paid this tax. However 2% surcharge on people earning income more than Rs.1 Crore is a regressive more. Job creators are being taxed excessively to compensate for the incompetency and profligacy of the Govt.Excessively? India has among the lowest marginal income tax rates.
gaurav92 Posted February 28, 2015 Posted February 28, 2015 No major changes in the Tax slabs for the middle class
adi B Posted February 28, 2015 Posted February 28, 2015 I think this is a pretty good budget but nothing much for the middle class
gaurav92 Posted February 28, 2015 Posted February 28, 2015 What is the difference between wealth tax & 2% surcharge? wealth tax was on "Wealth" adn not income, whereas, Surcharge is on Income which exceeds 1 crore.
gaurav92 Posted February 28, 2015 Posted February 28, 2015 Corporate Tax reduced from 30% to 25% is a major reform for 4 years. How do they ensure that there is no leakage in revenues ?
adi B Posted February 28, 2015 Posted February 28, 2015 Medical insurance bill for the middle class :nice:
diga Posted February 28, 2015 Posted February 28, 2015 wealth tax was on "Wealth" adn not income' date=' whereas, Surcharge is on Income which exceeds 1 crore.[/quote'] more work for you CA guys to hide the income now ... :cantstop:
amiret Posted February 28, 2015 Posted February 28, 2015 What is the difference between wealth tax & 2% surcharge? 2% surcharge is on INCOME , while wealth tax was payable on net wealth (assets - debts ..i dont recall the exact categories of assets included in the calculation ).
adi B Posted February 28, 2015 Posted February 28, 2015 Kejriwal will question,aam aadmi ke liye kya hai :hitler:
Sachin=GOD Posted February 28, 2015 Posted February 28, 2015 This, like the Rail Budget, is more of an economic vision of Govt rather than just announcements. Will have good long term impact.
gaurav92 Posted February 28, 2015 Posted February 28, 2015 more work for you CA guys to hide the income now ... :cantstop: :cantstop:
FischerTal Posted February 28, 2015 Posted February 28, 2015 Aap will latch on to the sentiment expressed by many of you here that there is nothing for middle class
asterix Posted February 28, 2015 Posted February 28, 2015 Kejriwal will question' date='aam aadmi ke liye kya hai :hitler:[/quote'] Who cares... He can say whatever he likes...
randomGuy Posted February 28, 2015 Posted February 28, 2015 Its for 4 years. ok...(so not as good , still not bad for markets )
Sachin=GOD Posted February 28, 2015 Posted February 28, 2015 Black Money 'Penalty for black money concealment will be 300%. Imprisonment up to 10 yrs. Great move.
seedhi Posted February 28, 2015 Posted February 28, 2015 No reduction in fertilizer subsidy ?Can't be done without increasing the MSP as well. What could be done is to directly pay farmers (via cash transfer) as per fertilizers usage and let fertilizer companies get full payments.
gaurav92 Posted February 28, 2015 Posted February 28, 2015 Black Money 'Penalty for black money concealment will be 300%. Imprisonment up to 10 yrs. Great move. Penalty was 300% even earlier :hmmm:
amiret Posted February 28, 2015 Posted February 28, 2015 No reform in fertilizer subsidies. No deregulation of Urea prices. There is news that FM has allocated 73,000 crores for Urea subsidies.
Recommended Posts