Budget For India NOT For Indians?
The biggest disappointment from the interim budget is no relief in income tax for people like you and me.
Just to put this in context,
Max tax, Companies in India pay 22% and before they pay this tax, they have various accounting ways such as depreciation of assets, amortization, interest payments etc that can be manipulated easily.
On the other hand, common people of India pay tax up to 30%.
And then after paying tax on this salary, we again pay GST at 18% on many products.
We pay tax on income from stocks and dividends.
Specially dividends, where a company has already paid tax before paying dividends.
Yes India may become a developed country by 2047 but what about common people of india which is burdened with tax, tax, tax!!
