Why super senior citizens have high slab?
This query is : Resolved
14 November 2012
May I know the Logic behind for giving High Slab for Super Senior Citizens i.e., up to 5 lakhs Nil rate of Tax.
Is this for meeting their Expenditure towards health or for some what different reason?
Is this for meeting their Expenditure towards health or for some what different reason?
14 November 2012
Expenditure toward Health is the main reason and not the one.
As the super senior citizen have already paid too much taxes in their life so Govt decided to collect tax from the person earning above Rs. 5 Lakhs.
Day to Day rise in cost of living is also the main reason.
The ruling Govt always enacts law keeping in view the Revenue and popularity. As the number of Super Senior Person are less so the ruling party think wise to loose some revenue in order to gain much popularity.
As the super senior citizen have already paid too much taxes in their life so Govt decided to collect tax from the person earning above Rs. 5 Lakhs.
Day to Day rise in cost of living is also the main reason.
The ruling Govt always enacts law keeping in view the Revenue and popularity. As the number of Super Senior Person are less so the ruling party think wise to loose some revenue in order to gain much popularity.
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15 November 2012
Hey,
Basic exemption is 2 lacs + 1 lac is u/80C + 1.5 lac Int on Housing loan + 35k to 40k u/s80D.
So sum total of whic comes near to 5 Lacks, we can not expect super senior citizen to invest for future so direct exemption is given
Thanks//Vaibhav
Basic exemption is 2 lacs + 1 lac is u/80C + 1.5 lac Int on Housing loan + 35k to 40k u/s80D.
So sum total of whic comes near to 5 Lacks, we can not expect super senior citizen to invest for future so direct exemption is given
Thanks//Vaibhav
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