The Exploited TaxPayer
@IndiaNewGen
We raise practical issues of the Middle class. We decode & explain taxation in simpler terms. Posts on personal finance, corporate, politics, people & society.
Tax on 12L Old regime (2014 rates) Home loan 2L 80C 1.5L NPS 50k 80D 50k LTA 30k Taxable income 7.2L Tax 10% on 2.5L & 20% on 2.2L Total 25K+44k =70k New Regime 0. Even after so many major changes, total 70k in 11 years. Check housing, education, healthcare cost in these years.
Besides layoffs, there is insecurity among all employees. The work is shrinking as companies are too cautious with the ROI. For a small migration or bug, from a junior engineer to senior to manager to director, everyone is jumping. Most of the tasks are mundane & good to have.
On top of that, when these employees will be laid off, TCS might offer one time severance package to them, govt will consider it as an income & impose full tax on it though knowing how@ important this money is for them to survive. Most of them will struggle to get new job.
Not just 12,000 employees. 12,000 mostly mid-to-senior employees. Meaning 40+ in age. Who will likely see their IT career over when that pink slip comes. Still think I'm catastrophizing when I say 45 is the new 60 in IT? And this is only the beginning.
GenZ has no strings attached unlike millennials who bonded with their managers, have deeper career discussions, indepth project understanding, discussions with seniors. Hardly there is any enthusiasm to learn but keep hopping. Leaving the organisation is casual. No good byes.
As per @grok tax slabs should be 0% till 10L, 10L -50L 15%, 50L+ 25%. No surcharge, no cess.
As India's hypothetical Finance Minister, I'd prioritize simplicity, fairness, and growth. Direct taxes: Flatten income tax to 3 slabs (0-10L: 0%; 10-50L: 15%; >50L: 25%), abolish surcharges/cesses, raise deductions for education/health to 5L. Corporate tax at flat 20% with R&D…
There is a difference between public & private expenditure. Public expenditure come from taxes. You don't have any obligation to return anything to the tax payers. Whereas private expenditure come from investors & private borrowings. They expect returns. pressreader.com/india/business…
आप पहले सड़क बनाने के लिए 30% कमाई से देते हैं। सरचार्ज और सेस भी देते हैं। फिर कार पर GST देते हैं। फिर रोड टैक्स देते हैं। फिर सड़क पर चलने पर toll भी देते हैं। सड़क बनाने के पैसे 2-3 साल में toll से निकल जाते हैं पर आप 20 साल toll देते हैं। भाई आप कितना टैक्स देते हैं।
Income tax structure in India is funny as well as painful for salaried class For example: I'm driving a car that cost x rupees, I'm paying 2x as income tax to Govt every year. That means in last 5 years I've already gifted 10 cars to Govt while I myself don't have enough…
That anxiety still hold. @nsitharaman even though PM Modi is in chair for 11 years. The question is not 100₹ but several hundred thousand rupees. There is no benefit passed to the tax payers & 50% money is taken. From the rest education, rents, EMI's goes. That anxiety still
Wo to social media aa gaya isliye thodi bahut aisi khabar aa jati warna in main stream media ne Modi ji ke kaside padhne main hi din nikal dete hain.
AI is one of the reasons but not the major reason. IT jobs can be shifted to other countries, projects scrapped, automated etc can be much easier than manufacturing based businesses. Service based companies biggest USP to provide thousands of engineers over night is outdated.
#TCS #Jobs
I am saying this now a millionth time. Handing over your hard earned money to govt, politicians and babus is the worst form of desh seva. It will also insecure your future.
How many are seniors above 20 years in TCS? Out of 6L, it could be 60K-80K as the company hires most of its staff from colleges. Those who are 18-20+ yoe, should consider layoffs are 15%-20% not 2%.
In last 15 years, people who were 25 are 40 now. They have already seen their peak & future look uncertain. The Govt took a huge amount from their income in income tax, property registration, 28% GST, road tax, property tax etc. Most of their kids are not even in 1st standard.
Intel to lay off 24000 employees TCS to lay off 12000 employees Microsoft to lay off 10000 employees Infosys is not giving pay hikes Start ups are not hiring anymore 1 crore+ aspirants are running after government jobs The youth of India is staring at an extremely grim…
Trump is doing nothing wrong. He is supposed to protect american citizens jobs. We are not paying taxes to trump, neither he promised us anything nor we vote for him. Narendra Modi has to create large scale, high quality, high pay, high end jobs for Indian educated students.
I gave warning about Indian service based companies long ago.
Only IT employees, govt servants and consultants form the direct tax payers base. IT companies will be stagnant. All service based companies head counts reduced from last quarter. Product bases are firing, stopped hiring, stopped hikes. Income tax will not grow going forward.
‘Why work harder just to pay more tax?’: Rs 75 Lakh job offer sparks Reddit debate on India's Income Tax burden - Trending News | The Financial Express share.google/JbAS7Edw1KrWSX…
Most of the people want to become civil servants only because they will get a red batti, 4 security, they can shout at people, their parents can showoff that their kid has become IAS, get beautiful wife etc. They don't have any real skills. Fire them & there will be no takers.
Most of the people want to become civil servants only because they will get a red batti, 4 security, they can shout at people, their parents can showoff that their kid has become IAS, get beautiful wife etc. They don't have any real skills. Fire them & there will be no takers.
"Mera bhai saal ke 2 crore kamata hai" One of my relatives said this to me at a wedding to belittle me many years ago. I was earning 15-20 LPA that time. I will never forget this my entire life. If there's one thing you shouldn't do in life, never make anyone feel small.
क्या कारण है जब देश में यशस्वी प्रधानमंत्री मोदी की के नेतृत्व में चौथी बड़ी अर्थव्यवस्था बना, 4T, विदेश में डंका बजा लोग देश से भाग रहे हैं। माधवन से लेकर विवेक ओबेरॉय, विराट कोहली, हनी सिंह देश से सामान समेटकर निकल चुके हैं। क्या कारण है? कहां तपस्या में कमी रह रही है।
🚨 Number of Indians gave up on Indian citizenship in 2024 = 2,06,378.
Taking care of parents health, kids education, providing financial security to your family, roof over your family, adequate health coverage & savings for old age is your biggest contribution to the nation building. Giving 50% money to politicians for desh seva is pure nonsense.
Hello @grok Do you know who was the most famous person (with the most followers) who visited my profile? They don’t have to be mutual. Don’t tag them, just say who it was.