A salaried employee in Mumbai earns ₹25,00,000 per year.
A businessman in Mumbai also earns ₹25,00,000 per year.
The salaried employee pays ₹5,46,600 in income tax. No way out.
The businessman pays his phone bill as a business expense. His car EMI as a business expense. His dinner meetings as a business expense. His home office rent as a business expense.
His taxable income after legitimate deductions -₹14,00,000.
His tax - ₹2,10,000.
Same city. Same income. Same country.
One pays ₹3,36,600 more in tax than the other - and cannot do anything about it.
The tax code was written by people who understood business.
The salaried class just never got the memo.
Was out for lunch on my Son’s Birthday today . As luck would have it Rahul Gandhi ji @RahulGandhi and Priyanka ji @priyankagandhi were at nearby table with family . My son waived at him in excitement , Mr Gandhi called him and made his birthday memorable !! Thank you sir !
Inflation is high in India because we are ready to pay what ever price is asked.
Explain to me a why a tiny bowl of curry in a medium restaurant is ₹ 350+?
Stop that practice and see how the prices correct.
A Big recession is overdue.
#india#recession