Comments on: Standard deduction for salaried employees may return http://staffcorner.com/blog/2009/06/03/standard-deduction-for-salaried-employees-may-return/ StaffCorner - The meeting point for the Central Government Employees of India Fri, 23 Jul 2010 04:05:04 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: s.c.mukherjee, institute of forest productivity, ranchi http://staffcorner.com/blog/2009/06/03/standard-deduction-for-salaried-employees-may-return/comment-page-1/#comment-3925 s.c.mukherjee, institute of forest productivity, ranchi Thu, 18 Jun 2009 10:05:03 +0000 http://staffcorner.com/blog/2009/06/03/standard-deduction-for-salaried-employees-may-return/#comment-3925 sir, i've already submitted my problem about acp on 2-2-2007 regarding my pay band and grade pay. i got acp on 2-2-2007 after completion of 24 years service in the scale 5000-150-8000 from 4000-100-6000. my institute has given me grade pay 2800/-.the modified has not declared at that time, but recently it has been declared by the govt. of india. sir, my initial appointment on 2-2-1983 in ldc,i got on promotion on 16-01-1996, kindly inform me in my email no. what will be my exact pay band and grade pay, waiting for your early reply, thanks. sir, i’ve already submitted my problem about acp on 2-2-2007 regarding my pay band and grade pay. i got acp on 2-2-2007 after completion of 24 years service in the scale 5000-150-8000 from 4000-100-6000. my institute has given me grade pay 2800/-.the modified has not declared at that time, but recently it has been declared by the govt. of india. sir, my initial appointment on 2-2-1983 in ldc,i got on promotion on 16-01-1996, kindly inform me in my email no. what will be my exact pay band and grade pay, waiting for your early reply, thanks.

]]> By: ssms http://staffcorner.com/blog/2009/06/03/standard-deduction-for-salaried-employees-may-return/comment-page-1/#comment-3649 ssms Fri, 05 Jun 2009 05:10:40 +0000 http://staffcorner.com/blog/2009/06/03/standard-deduction-for-salaried-employees-may-return/#comment-3649 Income Tax burden on salaried class The Govt. is taking about reintroduction of Standard Deduction. But the fact is that the Govt. should abolish the Income Tax to all Govt. salaried class. Please read this to the end to understand the concept in detail. The income tax payers can broadly be classified in to three categories: Salaried class, General Public and Business class. Salaried class: Salary is the only source of income and taxes are deducted at source without any mercy. All salaried class govt. employees are paying nearly 30% of their salary in the form of TDS. Apart from this the salaried class employees are bound to pay additional taxes of 10 to 15% out of their 70% earnings for their day to day leaving. These are the taxes that are levied on all right from a drop of water to all consumables, as nothing is tax free. General Public: Like all citizens of independent India they are paying 10 to 15% out of their earnings for their day to day leaving. Business Class: Like all citizens of independent India they are paying 10 to 15% out of their earnings for their day to day leaving. These classes of people are getting benefit out of this taxation system by collecting taxes not only on products but also on their profit margins. Ex. A factory item which is sold by the factory for about Rs. 1000 is taxed by the Govt. to the tune of 10 to 15% to the distributor, which only goes to the Govt. The distributor adds profit (10%) to this item and sells it to the whole seller for Rs.1100 and collects taxes for Rs.1100 instead of Rs.1000. Where as the whole seller again adds his profit of (10-20%) to his cost price and sells it at Rs.1220 and taxes are collected for Rs.1220. This intern is sold by the retailer adding his part of profit (10-20%) to the consumer for Rs.1440. Hence the tax on Rs. 440 goes to the business tycoons and the poor Govt. only gets his share for Rs. 1000 at the rate of 10-15%. Nearly 50% of Govt.’s shares of taxes are being swallowed by business class. As everybody is paying the maximum tax of 10-15% to the Govt. compulsorily for the day to day living please tell me why a salaried class of Govt. employee should pay the taxes to the tune of (30% + 10-15%) amounting to 40-45% of their income as taxes. In the above contexts which are true the Govt. should abolish Income Tax in total to all Govt. salaried class employees. Income Tax burden on salaried class

The Govt. is taking about reintroduction of Standard Deduction. But the fact is that the Govt. should abolish the Income Tax to all Govt. salaried class. Please read this to the end to understand the concept in detail.

The income tax payers can broadly be classified in to three categories: Salaried class, General Public and Business class.

Salaried class: Salary is the only source of income and taxes are deducted at source without any mercy. All salaried class govt. employees are paying nearly 30% of their salary in the form of TDS. Apart from this the salaried class employees are bound to pay additional taxes of 10 to 15% out of their 70% earnings for their day to day leaving. These are the taxes that are levied on all right from a drop of water to all consumables, as nothing is tax free.

General Public: Like all citizens of independent India they are paying 10 to 15% out of their earnings for their day to day leaving.

Business Class: Like all citizens of independent India they are paying 10 to 15% out of their earnings for their day to day leaving. These classes of people are getting benefit out of this taxation system by collecting taxes not only on products but also on their profit margins.
Ex. A factory item which is sold by the factory for about Rs. 1000 is taxed by the Govt. to the tune of 10 to 15% to the distributor, which only goes to the Govt. The distributor adds profit (10%) to this item and sells it to the whole seller for Rs.1100 and collects taxes for Rs.1100 instead of Rs.1000. Where as the whole seller again adds his profit of (10-20%) to his cost price and sells it at Rs.1220 and taxes are collected for Rs.1220. This intern is sold by the retailer adding his part of profit (10-20%) to the consumer for Rs.1440. Hence the tax on Rs. 440 goes to the business tycoons and the poor Govt. only gets his share for Rs. 1000 at the rate of 10-15%. Nearly 50% of Govt.’s shares of taxes are being swallowed by business class.

As everybody is paying the maximum tax of 10-15% to the Govt. compulsorily for the day to day living please tell me why a salaried class of Govt. employee should pay the taxes to the tune of (30% + 10-15%) amounting to 40-45% of their income as taxes.

In the above contexts which are true the Govt. should abolish Income Tax in total to all Govt. salaried class employees.

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