DTC effect :
Net income under Tax net increases. And its a very good way to rob the poor citizen of the country by showing the just the basic tax slab increase and removing the tax exemption worth over 2.5 Lakh in the form of HRA, 80C, 80CC and 80D from them and showing the that you save over Rs. 4000/- in tax with basic slab increase but its making into a net of 20-30% slab of your whole income so on a net of the 2.5 Lakh exemptions you have to pay around Rs. 50000 to 75000/- more in tax when compared to saving of mere Rs.4000/- due to increase of basic slab. They can't simply remove tax exemptions as they are doing instead they can give a tax rebate rate for the saving at the time of investment in place of taxing at the time of maturity where the net tax is of no use for savings.
How its managed in other countries:
In other countries the net tax income is increased but lowering of tax slabs but as this is done with a reduced tax slabs where net tax rate is less than the present tax rates. But here there is no such calculations and estimates of the net tax flow with the new tax code and whats the effective tax slab to be introduced in order to make the net tax collected should be almost equal where it wont give a pinch to the people for payment of high taxes.
So guys get ready to pay your hard earned money to the govt in the form of tax and work for govt. for nearly 6 months to pay them taxes as a punishment for being born in this free India where you are treated as a bonded labor.
Soon may happen in near future:
You may not be surprised soon to see the India a new colony of the modern era where we will be Independent but directly under the rule of the some political tattus who dance to the tune of an Foreign and sell the golden bird for mere few bucks for their indecent lavishing pride and want for some paper money.
Is it a govt. for welfare of its citizens?
Central govt. is acting so weirdly as if it is ruling a colony where it leavy and make the country citizens to pay more and work hard to get live after paying hard earned money to Govt.
India is still in a colony after 63 years of Independence where it is indirectly ruled by the some local toys in the name of politics and ruled by some known but still ignored foreigners.
Poor citizens of poor country become still poor for the greedy political system in power and place.
