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New Income Tax Act: Income on social media causes a ruckus about something or the other day. Recently, when a user posted, it wrote that the earner who earns less than 60 lakh rupees should be considered poor, then a new debate broke out.
This viral post created a ruckus
It was written in this post, “Poor earning less than 60 lakh rupees annually. Today, GST, income tax and VAT pay 70 percent income. Middle class is a middle class earning 2 lakh rupees annually. This post further wrote, “The middle class, which earns 60 lakh to 1 crore rupees, comes in the category, while the upper middle class earning more than 1 crore comes in the middle class. If you do not have the property of your ancestors, then you Are not rich. ”
Anything less than 60LPA is poor. You pay 70% income as taxes in the form of GST, income tax & VAT. Less than 2LPM net- is middle class.
People making 60L-1cr are middle class. Those making above 1cr+ are upper middle class. You aren’t rich if you don’t have generational wealth. https://t.co/ylwyUBWppr
— Shark (@fintech_shark) February 2, 2025
Actually, it was written in a post on X, “Today only IT people are crying on the matter of income tax free of Rs 12 lakh. For non-IT people, despite having 7-10 years of experience, there are 12 lakh dream salary. Further written in this post, IT professionals, who have earned more than 24 lakhs, should stop calling themselves lower middle class. Forget 12 lakhs- If you check India’s average salary, then see where you are standing. It is justified to demand better road, healthcare, water and education, whether you earn 1 lakh, 12 lakh, 24 lakh or 1 crore. But acting to show yourself poor on a salary of 24 lakhs? Please turn off the nonsense. ”
Debate erupted on social media
In response to this, users hit back on the post of Fintech user. One wrote, “If there is a ‘middle class’ to earn 60 lakh to 1 crore, then what is 12 lakhs? below the poverty line?”
Another user raised the question and asked, “You pay 70 percent income tax,” If you are in 33 percent tax bracket and the rest is spent on only 28 percent GST products, then your tax is still up to 70 percent. ” Will not reach Perhaps you would not have found the correct information of mathematics in primary. ”
Talking about the ground reality, some people wrote, “No rural family earning 40 thousand rupees in India is poor. For urban areas, increase it to 8 lakh rupees annually. In such a situation, a comfortable earning of 60 lakh rupees will come in the category of upper middle class comfortably.
Let us know that in all these reactions, the new income tax slab announced in the general budget 2025 has been criticized. During this, Finance Minister Nirmala Sitharaman had said that there will be no tax on income up to Rs 12 lakh from now in the new tax regime.
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