Fm Wants Removal Of Sops To Cut Tax Rates

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....But the government did not give any timeframe to roll out its intention, which pointed towards the pruning of exemptions being its long-term goal for which finance minister P Chidambaram told the consultative committee, a consensus needs to be evolved.

..no need to freak out just yet 😉
 
It could be a good thing. That is if they do not mess it up. Actual tax rates are 20 - 22% for most ppl. If they remove exemptions and make 20% actual rate, it makes sense.But if they remove exemptions and keep rates at current level, thats trouble 🙁 In situations like this, left parties look good since they might support salaried class.
 
QUOTE(netfreak @ Nov 12 2006, 08:00 PM) [snapback]68540[/snapback]
But if they remove exemptions and keep rates at current level, thats trouble 🙁
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Heh, how likely do you think this is the real objective.

..they are trying to assess how easy it will be to get away with it.

I'm not buying the removing-tax-exemptions... of the few

will result in lower taxes for all....unless they go after the corporates.
 
if they remove exemptions, they better lower the starting level taxes. i hate to pay my taxes when i get electricity for like 10 hours in a day. and i hate to pay taxes when i end up getting wheel balanced on my car every second month due to bad roads in my city.
 

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