GOVERNMENT SHOULD IMPOSE HIGHER TAX
ON RICH CLASS ?
We (India)
have many problem like population, Poverty, Corruption, etc etc if we creat the
list the list will be long. Out of many major
problems Unemployment is the one of the main problem of India. This year may
government going to charge higher tax on rich people. Following is the current tax
slab for General and women. For siniour Citizen first slab is o t 2,50,000/-
and rest is similar.
Income
tax slab
|
Tax
|
0
to 2,00,000
|
No Tax
|
2,00,001
to 5,00,000
|
10%
|
5,00,001
to 10,00,000
|
20%
|
Above
10,00,000
|
30%
|
What
happen if we Increase tax in rich class
Few experts
opinion
Naina Lal Kidwai, FICCI President,
"A higher rate of tax on high income group taxpayers is
uncalled for as this would discourage entrepreneurship. It could lead to
professionals relocating to low tax domiciles such as Singapore, Dubai or
London,"
FICCI recommended that the maximum rate of 30 per be made
applicable for an income above Rs 20 lakhs (as against the existing threshold
of Rs 10 lakhs).
Rajkumar Dhoot, Assocham President
"Nowhere in the world this happens. Our opinion is tax
them (the rich) but tax them reasonably. They have money and with that money
they invest in the country, which generates jobs. The investments from the rich
men also give excise duties, sales tax and
hence generate revenues also."
Adi godrej, CCI President
"We have said that any increase in taxes (on rich) will
create a negative perception on investment and therefore should be avoided."
The point is do higher rates of taxes lead to HIGHER
COLLECTION or lead to a SENTIMENT, which creates a NEGATIVE effect on ECONOMIC
GROWTH.
(Source
: web site of Economic times)
