Why should not the people earning salary expect from the government, pay three times more tax than others, know what is the reality
The salaried class collects the highest tax in India. If we talk about the non-salaried class, then it includes those doing their business, running industries and professionals like doctors, CAs, architects etc.
India’s Revenue Secretary Tarun Bajaj has said that on an average, non-salaried people in the country file tax of ₹ 31,500 per return while the salaried class pay more than ₹ 90,000 per return.
What is the reason behind this
CA Basant Sharma, who works for personal income tax in Ghaziabad, has said that usually the entire income of the salaried class is in one number.
They get salary from the office in the bank account and after deducting all the deductions including section 80C, the employer pays them the salary after deducting their TDS. Because of this, the salaried class has to pay more tax.
If we talk about the non- salaried
class, then it includes entrepreneurs, businessmen and professional people who do their work with the help of their customers. The non-salaried class enjoys many benefits as per the Income Tax Act , due to which their tax liability is reduced.
Generally, non-salaried classes show their expenses equal to the income earned in a number. They get the benefit of tax deduction on almost every type of expenditure, due to which their tax liability is reduced.
if a person runs his own small business and has installed a machine in his factory, then according to the Income Tax Act, he gets a benefit of 10% of the cost of his machine every year as depreciation cost. This means that if a person has a machine worth Rs 10 lakh in his factory, then he will get a profit of ₹ 1,00,000 annually.
He can deduct this amount from his income. Along with this, the difference between buying raw material and selling finished goods is called profit, but in this too he took advantage of all deductions from electricity bill to staff salary, expenditure on petrol and diesel, cost of ordering goods, cost of sending goods. could.
Less amount in ITR filing
India’s Revenue Secretary Tarun Bajaj has said that 96% of non-salaried people file income tax returns of less than Rs 10 lakh. 88% of non-salaried people file income tax returns of less than ₹5 lakh.
Total ITR in the
country If we talk about the total people filing income tax returns in the country, then 75 percent of the income tax returns are filed for less than ₹ 5,00,000 per annum. Similarly, 92% of income tax returns are filed for less than ₹10 lakh.
