if you compare individual and corporate tax rates with rest of the world, especialy when you compare with U.S. , China, Russia, Jpan etc.
How much low tax rate indians and indian industry can expect in next 5-7 years. (by 2014)
2007-03-15 07:37:20 · 15 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ India
high for someone who pay taxes.most people don't even pay taxes
2007-03-17 17:48:24 · answer #1 · answered by binda 3 · 0⤊ 4⤋
Indian Income tax rates are not very high compared to other countries, check out comparable rates at www.worldwide-tax.com
If only more people were paying taxes, this rate could be even lower
2007-03-16 23:55:31 · answer #2 · answered by sonali_n 2 · 0⤊ 5⤋
India is at 33.66% for 2006, with Japan and the U.S topping the list at 40% or higher. There are many other countries in that list above India. No clue what the future holds. That percentage is still a big number. Several countries have less than half of the India's rate, and then there's the Cayman's with 0%. Ireland would be a good country in terms of being advanced but still having a low rate.
2007-03-15 08:29:24 · answer #3 · answered by xwdguy 6 · 1⤊ 7⤋
The tax rate in India is less as compared to other big countries.
The system itself has wrongly made the IT to confuse the assessee.
Number of IT Assessee in India are less as compared to the total population.
2007-03-15 20:16:33 · answer #4 · answered by MooN 6 · 5⤊ 3⤋
India is a developing economy...with such high tax rate Indians struggle further in flourish.
it must come down, Tax rate in India is high, very high
ask this from somebody who work hard, have aspirations.
2007-03-17 05:13:56 · answer #5 · answered by rockstar_superstar 3 · 0⤊ 5⤋
Yes Indeed tht tax rates are on a higher side ......
One of the sould reason is that only 10% of our population is paying true taxes , ....... even company's like Reliance and HLL are not behind in evading TAX , like excise , showing surplus exports and getting duty draw backs ....... mostly the burden that falls then on is small business , and individuals who cant afford to hire shrewd consulants and lawyers to evade tax and handle the Tax department ............
I realy think that for long term growth , if government juts simplifies the procedure after studying systems in countries like US and Europe .. indians can not be far behind in genrating good tax revenue .......... Governement is slowly developing a full network to track our business transection like e-filing and stuff like that , along with mandatory PAN and things .......
but does the government has any reply to the gross and systemic corruption prevelant in our government system ?
Our hard earned money goes as under hand cash to all the governent officials .......... they are having all the big assets .. and we contribute a lot to it as business men and srevices industry .........
its pity .........
2007-03-16 15:44:31 · answer #6 · answered by Smarts 2 · 0⤊ 6⤋
Yes as per Janta
No as per Central / State / Town Finance Minister(s)
2007-03-16 21:00:57 · answer #7 · answered by Anonymous · 0⤊ 5⤋
I think you are mistaken. It is high - but not the highest. If you want development, tell me where does the money come from? So don't expect any favours for some more time :-) If atleast everyone who are supposed to pay, pays up India would have been a developed Nation :)
2007-03-15 07:42:37 · answer #8 · answered by surnell 4 · 1⤊ 8⤋
Nope,
Next 5-7 years also 30% it will be
2007-03-15 17:19:39 · answer #9 · answered by suresh b 3 · 1⤊ 7⤋
tax rates are really high in compare with many country. don't expect any fall till our citizen gets literate. now only god can save India.
2007-03-15 08:03:12 · answer #10 · answered by Navin B 2 · 1⤊ 8⤋