loan,banking and credit
*Loan,banking and credit>>>income tax

Do u feel that Personal Income tax is liable for double Taxation ?


Do you know that people pay tax so many times against their income? Can u list them.
When we spend we pay in the shape of excise, custome,octroi,sales tax, VAT , Service tax, Educational cess, Higher Education Cess, Surcharge, TDS so on and so forth. Do you agree with me ?

Dear Mr.Somani CA

I too thought in this way and tried to find a solution and posted my question in yahoo answers.
Please see the question is pasted below, please let me know your comments on this.
==============================...
I need your comments please ! I have a 8 point programme for a Corruptionless India?

1. Every citizen should be provided with a permanant account number
2. Cash transactions should be discouraged by printing money upto the denomination of Rs.100.00 only
3. All transactions above Rs.1000/- to be made through banks with dr/cr card, funds transfer, chq/dd or online payments.
4. All taxes (IT,ST,cess,ED,service tax etc.,) should be dropped. Only transaction tax of 1% on each bank transaction let it be debit or credit to be levied and automatically transferred to treasury a/c. (I think this will be sufficient to replace all the taxes)
5. Banks should maintain one a/c and give uniform interest.
6. If all taxes are dropped, somuch of paper work and filing of returns, maintainance,inspecting and scrutinising will vanish & the people used for this purpose can be utilised to do for more productivily
7. If cash transactions are discouraged, then corruption,black money etc. will fall to nil.
8. budget only for proper expenditure and need not worry abt income.
==============================...
Wait until Hillary gets in. What you have listed will double, with more categories being added on, on top of it.
yes
yes
ya, you felt absolutely right. we have to pay tax so many time with our income tax. ie. excise, vat, sales tax, service tax. because all taxes which are indirect have to pay by customer . besides it we have to pay our personal income tax on our income. and second thing is that we can't take deduction of all above indirect taxes. you thought right. i am with you in this thinking...
yes u r right we do pay taxes at many point.
but ARE u saying something new which every one else does not know about.
what is ur point
do u just want to dazzle others with ur so called knowledge ????
old information every one know it write something new
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