Gopala Krishnan sir,
You just do not realize the bitter fact.Most people are written off.And those written off accept their being written off.Otherwise the simple fact that the interest on fixed deposit is fake income,though accepted will still be defended as income.We are slaves who just do not believe that we have rights.The simplest fact that when there is no income,income tax has no meaning though accepted does not still register.One man in my face-book contact wrote that he is a CA,CPA etc and that I am writing shit,period,no explanation,he expects just contempt to work.And he is showing the contempt or the privilege of not explaining but castigating as normal.
YM
On Monday, 27 June 2016 3:09 AM, "Gopala Krishnan pmgops@gmail.com [worldmalayaliclub]" wrote:
You are talking about people getting pension and also keeping some amount in fixed deposit. But there are other category, who retired from undertakings and do not get any pension. They only have the amount received at the time of retirement and kept in fixed deposit. With no other income, how can they survive in the present day world?
On 25-Jun-2016 6:17 am, "Pankaj Nagpal nagpal.star@gmail.com [worldmalayaliclub]" <worldmalayaliclub@yahoogroups.com> wrote:
Respected YM sir and other member, i do not want to dispute your knowledge, however not happy viewing your efforts going in vain , hence commented:1) Is it not a fact that the rate of interest is far lower than the rate of inflation?Does the interest has any cushion like the DA ,as in the case of salaries pensions etc.It not totally vanishing because of inflation?When I say very sadly that it is a fake income,is it a joke?Income tax is supposed to be tax on income only.Is there any real income at all in the case of interest on fixed deposits?Mention of USA,UK,Japan etc is meaningless when you discuss simple arithmetic.Intt. rate in FD is not compared to salaries or any income, this does not seems logical. Income tax is imposed on Revenue in absolute terms. merely, shouting FAKE INCOME will not give comfort to anybody. Lets request jaitley to change country instead of sacking RRR. Govt. does not you any guarantee to protect your real income or real value. We should expect govt. to keep the inflation at minimum and reducing the gap between inflation and FD intt. rates. You can check PPF rates. Banks are there to help economy, not controlling economy. There are no free lunches.2) Is it not a fact that by adding the fake income to the taxable income very often the entire pension is stolen,thanks to the sin of taking the fixed deposits?If it sin, then dont do the crime , we should base views on the current regulations. there is no point in venting frustration against the income tax.3) You are a banker,but you advise that savings be put in land,buildings etc,the usual method of concealing one's black money.You want people to avoid the fixed deposits as it is so stupidly honest and white.Everybody has to live on this earth, bank or any job provides me the income as salary only, i do not own a bank, So, i need land to built my house or future expenses. . Whats wrong ? You should remove the Black money and i also support.4) Is it not a fact that today the estimated NPAs are 4.5 lakh crores,there is a respectable tax free looting of banks and no tax free saving?Totally wrong points, and only media alike. only the insider knows the truth. Dont agree with your terminology of looting.5)When the white economy is so attacked,the simple question is where to save in the white?Please refrain from showing your contempt for this question.Where can one save in the white economy?Sorry, i am not economist or share broker,, I am with you for this question. I dont save anything , hence no worries.6) Is it such a big crime to ask for the exclusion of the fake income from the taxable income and to refund the tax unjustly collected on the fake income?Is income tax,tax on income?you are fully right for this worry, but the approach should be mend to let DRUMBEAT on the deaf ears of Govt. Better approach CA or lawmaker with refinements by govt.Thanks for the keeping the discussion healthy.RegardsPankaj
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Posted by: yeddanapudi m <yeddanapudim@yahoo.co.in>
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