Union budget 2022: Salaried class demand increase in Income tax slab, check out the current one
Here is looking at the current slab for Individual (resident or non-resident) less than 60 years of age.
New Delhi: As Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2022 on February 1, the most pressing demand from the salaried class is to bring changes in the income-tax slabs and increase the rebates under section 80C, 80EE, 80EEA and 24(b) of the Income Tax Act.
Here is looking at the current slab for Individual (resident or non-resident) less than 60 years of age.
| Existing Tax Regime | New Tax Regime u/s 115BAC | ||
|---|---|---|---|
| Income Tax Slab | Income Tax Rate | Income Tax Slab | Income Tax Rate |
| Up to Rs 2,50,000 | Nil | Up to Rs 2,50,000 | Nil |
| Rs 2,50,001 – Rs 5,00,000 | 5% above Rs 2,50,000 | Rs 2,50,001 – Rs 5,00,000 | 5% above Rs 2,50,000 |
| Rs 5,00,001 – Rs 10,00,000 | Rs 12,500 + 20% above Rs 5,00,000 | Rs 5,00,001 – Rs 7,50,000 | Rs 12,500 + 10% above Rs 5,00,000 |
| Above Rs 10,00,000 | Rs 1,12,500 + 30% above Rs 10,00,000 | Rs 7,50,001 – Rs 10,00,000 | Rs 37,500 + 15% above Rs 7,50,000 |
| Rs 10,00,001 – Rs 12,50,000 | Rs 75,000 + 20% above Rs 10,00,000 | ||
| Rs 12,50,001 – Rs 15,00,000 | Rs 1,25,000 + 25% above Rs 12,50,000 | ||
| Above Rs 15,00,000 | Rs 1,87,500 + 30% above Rs 15,00,000 |
It is to be noted that individuals and HUFs can opt for the Existing Tax Regime or the New Tax Regime with lower rate of taxation (u/s 115 BAC of the Income Tax Act). The taxpayer opting for concessional rates in the New Tax Regime will not be allowed certain Exemptions and Deductions (like 80C, 80D,80TTB, HRA) available in the Existing Tax Regime.
upto 5lac no tax should be proposed after 5 lac 10% tax upto 10 lac be proposed
ReplyDeleteSupported
DeleteUp to 5 lakh NIL 5 to 10 lakh @5percent, 10 to 15 lakh @7.5percent, 15 to 20 lakh @10percent, 20 to 30 lakh @20percent and above 30 lakh @30percent
ReplyDeleteI suggest-
ReplyDelete1) upto 5 Lakh - Nil.
2) 5 Lakh to 10 lakh @ 5%= 25000
3) 10 lakh to 15 lakh @10%=250000+50000=75000
4) 15 lakh to 20 lakh @15%= 75000+75000=150000
5) 20lakh to 25 lakh@20% =150000+100000=250000.
6) 25 lakh to 30lakh@25%= 250000+125000=375000
7) above 30 lakh@30%= 375000+30% of amount more than 30 lakhs.
8) Divident from public Ltd and listed companies should be tax free as
a) dividend is given on post tax profits and
b) Invedter buys from post tax income. Hence it is aclear case of double taxation.
8) Fixed deposit interest on bank deposits in govt Bank should be tax free or interest slab should be raised to 6 lakh.( 50000 per month) .This is also for the same reason.
More supported
Delete0-5 लाख 0 %,
ReplyDelete5 - 10 लाख 5% ,
10-15 लाख 10%
15-20 लाख 15%
20 से अधिक 30%
वास्तव में यही मध्यम वर्ग है एवं इस सीमा में देश की लगभग 80% से भी अधिक आबादी आती है जिसमें छोटे एवं मध्यम व्यापारी भी सम्मिलित हैं जिनसे शासन को कर आय, कर की दरे अधिक होने से अत्यंत कम है दरे कम किये जाने से कर दाता स्वेच्छीक ही बढ जावेंगे, जिससे शासन का कर सन्ग्रह स्वतः ही बढ जावेगा , साथ ही इस वर्ग की बचत बढने से इनकी क्रय शक्ति बढेगी जिसका शासन को GST में सीधा लाभ होगा, जबकि इस वर्ग की बचत बढने से शासन की सोशल जवाबदेहि कम होगी. इससे और भी बहुत से लाभ है जिसपर विस्तृत चर्चा की जा सकती है
0-10 lacs- nil for senior citizens
ReplyDeleteThe government has many options for increasing its income for infrastructure expense, whereas the common man has only his income from salary, fd, etc.Giving more cash on hand to the common man will increase his expenditure power and will spur economic progress, as there are many drops of water in the ocean,give the common man a break and see the results, if it works then you have a win -win solution.I feel it needs to be tried out.
ReplyDeleteWe are paying GST for all items I think paying income tax isn't necessary. Moreover salary people can be excluded from paying income tax.
ReplyDeleteGST can be imposed to Agricultural produce
ReplyDeleteThe Indian government should take action on Liquidity.
ReplyDeletePeople don't have money
No liquidity No purchasing
Demand has come low
Marketis not that hungry .
Tax must be reduced upto 5lac Nil
People don't have purchasing power .