Stories similar to A Solution to end Income Tax woes:

INCOME EXEMPTED FROM INCOME TAX 1 year 40 weeks ago

Income tax act provides a scheme of exemptions, deduction and tax rebates. Income fully exempt from income tax doesn’t form part of the total income at all. Income partly exempt from tax is to be included in the total income only to the extent to which they are in excess of the quantum of exemption available. This topic is devoted to income exempt from tax while the deductions from gross total income and rebate from tax liability will also be discussed.

Revising the current income tax system 1 year 36 weeks ago

There have been discussions about our current income tax system. The liberals want to increase taxes
on the "rich". Conservatives have talked about a flat tax or national sales tax.

The question is "what is the most fair way to tax the American public?" The liberals think the "rich" should pay more taxes. I personally have 2 problems with this. First the top 1% of wage earners are all ready paying more than their share of taxes.

DOUBLE TAX AVOIDANCE AGGREMENT SECTION 90 OF INCOME TAX 1 year 46 weeks ago

Under the section 90 of income tax act, the Central Government authorized to act as income tax department to enter into Double tax Avoidance Agreements with other countries. Double tax means if a person is non resident and earns the income from India, this law ensures he/she needs not to pay taxes in both countries. The main aim of this law is to maintain an equitable basis of allocation and differentiate the resident income and non resident income as well as tax treatment and tax rates.

Flat Tax vs. Progressive Tax 2 years 10 weeks ago

Flat Taxation: One constant tax rate for all taxpayers, regardless of income level. Progressive Taxation: Those who have higher incomes pay more taxes and those who have lower incomes pay less taxes. It's been debated for ages as to which system is better. Flax taxation would simplify the tax code, but progressive taxation distributes the tax burden among those who can afford higher taxes. Which method do you think is better? Make your opinion known at Flat Tax vs. Progressive Tax.

Abolish the Federal Income Tax 1 year 40 weeks ago

The Federal Income Tax system is outdated and ineffective. The income tax should be replaced with a consumption tax that is cheaper to administer and spreads the cost to all citizens instead of just a select few. Two alternatives to the federal tax system have been proposes. The Flat Tax and the Fair Tax.