There was a news that the Flat resellers will be watched out by finance ministry and the reseller have to pay the tax. Finance minister thinks that people are earning easy money in lakhs of rupees by reselling the flat in a year or two. So, Government also wants to earn easy money by catching these transactions.
But in reality, the Builders, and Real Estate folks are earning lot of money and most of them are not taxed. All the transactions are not documented most of the time and direct revenue.
A small real estate person who helps to find rental houses earns more than a software engineer nowadays in Bangalore. If he helps you to find out a house of 10K monthly rental, he earns 10K from the tenant and 5K / 10K from the owner. A smart real estate person can make a lakh rupees easily in a month.
Can the finance minister get the tax for these income???
And some professions like Medical, people escape paying the tax. Doctors who have clinic, charges 100 or 150 per patient, and if 50 patients visits him on a day, he earns approx 150000 to 225000 rupees per month. A reputed doctor earns more than this. I don't know how much tax they pay.
Can the finance minister get the tax for these income???
How many politicians declare their income properly and pay the tax properly?
Can the finance minister get the tax for these income???
Okay, as a salaried person, they deduct the tax on my salary before paying the salary to me, do I get the enough benefit???
Why don't finance minister introduce some schemes like:
If you have paid X lakhs of rupees, When you take a loan from a government bank, you will get Y% discount on the interest rate?, etc...
Sunday, August 31, 2008
Indian Finance minister and Income Tax
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