Quick Summary
A Bengaluru-based e-commerce employee recently took to Twitter to vent his frustration about the high taxes he pays on his earnings and spendings. In a series of tweets, the employee, identified as Sanchit Goyal, said that he earns Rs 5,000 per day and has to pay 30% of that in taxes. He then went on to say that he had to pay an additional 28% tax when he bought caffeinated beverages from his remaining income. This, he said, meant that he was effectively paying more than 50% of his income in tax
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FAQ :
A Bengaluru-based e-commerce employee named Sanchit Goyal.
He complained about paying a high percentage of his income in taxes, both on his earnings and on purchases like caffeinated beverages.
He stated he paid 30% tax on his daily earnings and an additional 28% on caffeinated beverages, leading to over 50% of his income being paid in taxes.
His tweets went viral, with many people expressing sympathy and agreement, highlighting difficulties in saving and investing due to high taxes.
Factors mentioned include India's large population and relatively low per capita income, alongside a perception of inefficient use of tax revenue by the government.
The article states it remains to be seen whether the government will take action, but the tweets have certainly sparked a debate about taxes in India.
CAclubindia
