“Not much for high income earners”

February 02, 2022 12:09 pm | Updated 12:09 pm IST - CHENNAI

Vijay Gopal

Vijay Gopal

The Income Tax slab has not changed over the last few years. Given that the cost of living has increased drastically and also given the fact that the pandemic had made a huge impact on families the tax slab should have been modified to help the salaried employees. The insurance for dependent parents, the deduction for it has not changed, for a salaried person that should have changed because insurance premiums have increased over last few years. Considering the pandemic, something should have been done on the insurance part. Some of these deductions are merely on paper without giving any relief for the salaried employees.

On the pros, apart from extending the revised return timeline and clarity on the crypto currency taxes, the rationalisation of surcharges on long term capital gains is welcome. It provides clarity and reduces the tax burden on certain transactions.

(Vijay Gopal work as a chief financial officer in Blue Koi and lives with his family of seven)

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.