No Income tax for employees after elections – Vision of Leading National Political Party

| February 16, 2014

No Income tax for employees after elections – Vision of Leading National Political Party

All Salaried Class Personnel cherish to avoid Tax on their Income because it is a common belief that Business Class is benefited more as compared to Salaried Class as far as Income Tax is  concerned. A Leading National Party has raised hope by taking the dream of Salaried Class in its vision.

Senior Bharatiya Janata Party (BJP) leader Subramanian Swamy today said his party’s vision committee might propose either “no income tax” on the service class or give full tax exemption on their net savings.

Income Tax“The party’s vision committee headed by Nitin Gadkari plans to propose either abolition of income tax on the service class or give full exemption of IT on their net savings,” Swamy told reporters after delivering a lecture on “Indian Economy: Present Crisis and Way Forward” here.

Due to IT people are stashing away black money abroad to evade tax, he said, adding that the committee would propose the party to put tax on people earning more than Rs 1 lakh per month, and those saving in shares, bank, stock debentures should be given full relief from IT.

If rate of saving increases, the country GDP’s will also increase, and it would help generate employment, Swamy said.

On the ruckus in Lok Sabha over Telangana, he said, “Six UPA ministers were sitting in the well and made announcements.

But unfortunately the Congress party had ensured no action against them… It appears that Congress aimed to win some LS seats in Telangana by passing the bill.”

Source: Financial Express

Category: Income Tax, News

About the Author ()

Comments are closed.