Budget 2019

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Assuming 80C full investment of 1.5 L
50000 standard deduction
25000 mediclaim

If your income is 725000 then no tax

BUT

If your income is 725001 then you pay tax of 12500Rs!!

So 1 Re extra income and you lose 12.5 thousand rupees.

Whats the logic?

Most middle class people now earn more than 7.25 lakhs a year (definitely if you consider interest and other additional income)

So THERE IS NO REASON for a middle class family to be happy.

Its all just MAKE BELIEVE and NEWS propoganda
 
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there was a thread on reddit homepage yesterday about a guy who refused a USD 2000 salary raise in USA because it moved him into the next tax bracket.
 
If total money left in hand after paying tax is more, then he should take bonus.

So well he made a mistake by turning it down.. because he mis-calculated total money left with him afterwards.

But here in my above example - you lose LOTS OF MONEY just because your income is 1Re higher.

So effectively:

Person who didnt pay tax - keeps 7.5lakhs in hand

Person who paid tax - will have 7.38 lakhs

People who fall in income between (roughly) 7.5 to 8 lakhs will now try to find ways to reduce income.
 
Well... Nothing is implemented yet or would get implemented before the election. So there's that.
 

Yep as one of the article posted here said.

If they win - well the purpose of budget is solved.

If they dont win - new government will have hard time either fulfilling the budget OR new government will have to cancel the benefits given in budget.

Either way new government will be seen as evil.
 
Yeah. If they win... Jaitley would be back on his previous position. Pay tax if you expect better services. I wonder when Gst council would suddenly realize that tax slabs need to be reconfigured 🙄
 
Plus if nda doesn't form the government it's likely new government would present a fresh budget. What they announced yesterday is not even approved by the parliament.
 
^ If you think about it, MNREGA is almost like State sponsored voluntary slave labor. People doing menial work to eck out a living for 200-300rs a day. sad state of affairs.
 

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