Sir,
Union Finance Ministers often wax eloquent on the need to give some relief for the middle class in the matter of Income Tax but end up doing nothing in their budgets. The present FM Arun Jaitley is the latest to join the chorus. It is a well known fact that salary earners and pensioners bear the brunt when it comes to income tax as they are taxed at source. But there are business entities and others which hire export Chartered Accountans who draw up the accounts in such a way that end up paying no tax or at best, minimal tax. The FM if he is true to his word, should withdraw IT atleast for incomes upto 5 Lakhs as that would benefit a maximum number of tax payers whose taxable capacity is virtually nil taking into account the inflation and the spiralling prices of essential items. One hopes that this move of FM will usher in ”Acche din” for the salaried and the middle class.
Yours etc…
Prof. K K Gupta
191-Moti Bazar
Jammu
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