This is Life of a Salaried Employee in India

• Income Tax takes 0-30% & Surcharge

So if you Earn around ₹50 Lakhs Annually, which is certainly a good income in India

Government takes away roughly ₹10 Lakh as Income Tax as Per New Tax Regime (Subjected to your CTC Breakup)

Now you’re left with some ₹40 Lakhs

But this is just start of Taxation

• When you buy a Car🚗

-Pay upto 28% GST on Purchase

-Registration & Road Tax upto 18%

- Additional Cess, Toll

-GST on Insurance, Parts, Loan Fee etc too

• When you buy a Home 🏠

- Pay Upto 8% Stamp Duty Registration

- GST upto 18% on Loan Processing Fee & Foreclosure

• When you Get Medical/Health Insurance 😷

- Pay 18% GST on Insurance Premiums

• When you Invest your Hard Earned Money (Already Taxed)

- Pay LTCG, STCG, STT, TDS etc on Gains

We pay GST on everything from Food, LPG, Travel, Electronics, Medical Supplies, Stationary, Books etc

Income Tax with GST is a Painful Combination for Citizens

We pay Taxes like First World Countries & still struggle for Good Public Healthcare, Education & Quality Infra

Taxpayers should get some tax rebate in Essentials like Housing, Insurance, Toll etc

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