Does TAX tax IT people ?

[bingleguy]

IT ppl are paying hell a lot of TAX ... who knows to which pocket are they going ....?All the salaried middle class are the ppl who pay this TAX ...

We really bang our head with code daily
We really take extra work filling all those Daily status reports
We really take it more with the Meetings , COn calls and Vcon s
We really take it more by Testing !
We really are much concerned about the Client .. n really work hard for his feedback !
We really take all those tensions when our PM or TM or TL assigns us responsibilities beyond normal ones
We really take too much working beyond normal working hours- how many of us really go by 6 ?

n more to say .... n more for u all to say

IT guys are earning a little more when compared to other industries ! but thats for what we really put in ... n it is for our mental pressure n struggle that we are paid for !

A major part of our money that we earn after a tiresome month ... goes to the IT ... Are we IT ians really concerned whether this money is really been used ? or does it go to someone elses pocket !

Discuss on ur TAX experiences ! i guess most of the ppl here shld be IT oriented ... n will have enough points to discuss on this !

[Anoushka]

As someone said "Tax is not for the benifit of the taxed" :lol:

[bingleguy]

:lol: well said Anou ! but this shld not be the case ... this has to change ... they ask calculations for every pie we earn ... why dont they show calculations for every pie they collect and every pie they spend !

are they utilizing it in a proper way ? or is tehre a person who is whipping the govt and pocketing the money !

[selvakumar]

Reg TAX SAVINGS & others things,

I have no idea :sad:

Even I dont have a PAN CARD :oops:

Not sure abt that one.. might require some advice on this. :oops:

[Arthi]

:lol: well said Anou ! but this shld not be the case ... this has to change ... they ask calculations for every pie we earn ... why dont they show calculations for every pie they collect and every pie they spend !

are they utilizing it in a proper way ? or is tehre a person who is whipping the govt and pocketing the money !

Hi Bingle.. in yesterday's newspaper.. I came to know that now any can access anybody tax form.

Will give you the exact details tomorrow.

[Hulkster]

Wow...i did not know there was such a situation in India....i do think that because of the growth of India as a top IT exponent...the government is taxing IT students due to them providing more and more facilities,schools and infrastructure to cater to IT students....there might be also other reasons but for now my thoughts center around here.

[bingleguy]

we can discuss some real TAX realities here for the benefit of others !

[swathy]

I dunno anything abt tax and investments. My father takes care of everything. Its a gr8 torcher for me when they ask for investment plan all those stuffs.

Tax - englishla enakku pidikkadha vaarthai :evil:

[Arthi]

Tax - englishla enakku pidikkadha vaarthai :evil:

Indirectly u are telling that u wld like to vote for VJ :lol:

[scorpio]

BG- What type of 'realities' you'd like to address? Whatever we earn is 'white' and tax is deducted appropriately.

India is not the only country where income is taxed. More developed nations than us do have a similar tax structure. It hurts us most because our earnings are very transparent :-)

[ssanjinika]

Really??? :shock:
Does the IT Sector really pay more tax.I didnt know that!! When I was working in India I dont remember paying any extra tax.

[Arthi]

BG- What type of 'realities' you'd like to address? Whatever we earn is 'white' and tax is deducted appropriately.

India is not the only country where income is taxed. More developed nations than us do have a similar tax structure. It hurts us most because our earnings are very transparent :-)

Same here we cann't hide anything. I heard those who are working in MNC in India... their salary is very transperent they cann't hide anything. Whatever allowances they are getting it is shown in their salary slip also.. so they cann't hide anything from goverment.

[great]

BG- What type of 'realities' you'd like to address? Whatever we earn is 'white' and tax is deducted appropriately.

India is not the only country where income is taxed. More developed nations than us do have a similar tax structure. It hurts us most because our earnings are very transparent :-)

Same here we cann't hide anything. I heard those who are working in MNC in India... their salary is very transperent they cann't hide anything. Whatever allowances they are getting it is shown in their salary slip also.. so they cann't hide anything from goverment.

Not for all employees for middle and lower level staff its like that :cry: :cry: :cry: it might not be the case top level management. All the increment will be on variable only BPO`s hike the salary only on the varaible component not on the BASIC :hammer:

[Fire111999]

this thread is going from tax to black money!

[rajraj]

A major part of our money that we earn after a tiresome month ... goes to the IT ... Are we IT ians really concerned whether this money is really been used ? or does it go to someone elses pocket !


bingle: The tax rates are same for everyone. If you make more you pay more. People in IT sector make more than people in other areas like education, government etc. It is called telescopic rate. People at the bottom pay less or nothing.
The tax you pay goes for funding the army, air force,navy,educational institutions, road building etc. There may be waste. I don't think there is any pilfering of tax money. I will give you one example of how tax money comes back to the citizens.
When I was engineering student, I paid Rs 144 a year for tuition. But the government, I was told, spent Rs 10000 a year on me. Suppose the government decided to transfer the entire burden to the student only the super rich would have gotten an engineering degree those days. The IITs and government colleges are also funded from tax money. Income tax is a necessity. Be happy they brought it down from the top 85% ! :)

[bingleguy]

Good point out Raj .... but does all ppl who mint more money pay proper taxes ! Sorry Sir ... No .... think about Business ? the undigestable fact is they would earn more than anybody else.... but pay tax less ! coz everything is in their hands...

but salaried ppl cannot escape from anybody ! ofcourse those who get low sal need not pay ! there are some ppl who study working in an org getting stipend but still liable to pay taxes !

Wat about actors,financiers ??? do they file their taxes perfectly ? except a few ?

[rajraj]

bingle: All who earn are expected to file income tax returns. What you describe relates to enforcement by the income tax dept.
In the US even waiters and waitresses in restaurants are expected to report the tips they get. If the government is serious they can make everyone pay their share of taxes.

[Sandeep]

Bingleguy,

Everyone is liable to pay tax, question is whether one can hide his income or not.

In India self-employed (non salary class) can easily hide their Income. But it is becoming more and more difficult. Many steps are being implemented by the Govt. PAN card is the baseline for this. Govt is also forcing banks and other financial institutions to keep track. Another step being contemplated is simplification of Tax laws. Already it has been enormously simplified for salaried employees

<1 Lakh - no tax
1 to 1.5 - 10%
1.5 to 2.5 - 20%
2.5 and above - 30%

Also there is Tax rebate for investments upto 1lakh.