There is no denying that majority of tax payers in India are from salaried class(considering the ratios of the total number of employees and businessmen and tax payers) compared to businessmen and one doesn't need rocket science to say that businessmen earn more than employees.
Just an imagination :
Maybe you can find certain businesses where employee pays tax and the owner doesn't.
I agree that the situation was same when earlier government was in power. But we/our parents didn't elect this government to repeat those things.
Recently I came across a statistics within which it was mentioned that 28 lac crore INR were invested in mutual funds and equities after Demonetization. People started to invest in mutual funds rather than storing money/cash.
Even when I started to earn, few months back, the first investment suggestion given to me was for mutual funds.
But important point comes now...
When this government was formed, they deleted the tax on gains(over a lac) in mutual funds, equities. Later after Demonetization, people started to invest in above sectors and now after such big investments, government has restarted the tax on gains above 1 lac.
I am not saying that this will go in ministers pocket or something absurd like that. But this money will be used for national causes only(hope so). Still the way it was fetched seems wrong to me.
Secondly, these investments happen from bank accounts so they can't stay hidden. People who invest here will have to pay tax.
My assumption:
Salaried people can't afford to invest huge money at a time so they tend to invest here(mutual funds etc) whereas businessmen tend to invest in lands etc. So, salaried people will have to pay more tax(overall) compared to what they have payed in total.
Finance minister stated that they didn't change tax slab this time because they have done it last time. But inflation is as it was, so value of 2.5lac is less compared to last year that means you have actually titened the slabs.
I hope that above stats/facts are correct but if they aren't then please do correct me :)
I hope to here thoughts of you all on this.
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