Nirmala Sitharaman presents 7th straight budget
She has introduced new tax slabs
Netizens question no taxes for BCCI
The 2024 Union Budget has ignited a firestorm of controversy due to perceived tax disparities between ordinary citizens and the Board of Control for Cricket in India (BCCI). Under the new tax regime, individuals with an annual income of ₹7 lakh are subjected to a 10% tax rate, whereas the BCCI, boasting an annual income of ₹17,000 crore, enjoys a 0% tax rate. This stark contrast has sparked widespread criticism and discontent among the middle and working classes, who feel unfairly burdened by the tax system.
What we got in budget:
Taxes, Taxes & Taxes
-STCG Tax 20%
-LTCG Tax 12.5%
-Dividend Tax 15%No relief for Middle class
— Curious Shubham – NISM Certified (@Curious_Shubh) July 23, 2024
Social media platforms and public forums have been abuzz with indignation, as many argue that the government’s policies favor large corporations and wealthy entities over average taxpayers.
Also Read: Union Budget 2024: Major boost for students and youth employment
Critics have accused the government of pandering to influential bodies like the BCCI, questioning the equity of the tax system. “This budget clearly shows where the government’s priorities lie—protecting the interests of the rich and powerful rather than the common man,” said a prominent economic analyst during a television debate.
The controversy has fueled calls for more equitable tax policies, with many urging the government to reconsider its stance and ensure that tax burdens are fairly distributed. As discontent simmers, the debate over tax equity is likely to intensify, putting pressure on policymakers to address these concerns in future fiscal strategies.
Nirmala Sitharaman presents 7th straight budget
She has introduced new tax slabs
Netizens question no taxes for BCCI
The 2024 Union Budget has ignited a firestorm of controversy due to perceived tax disparities between ordinary citizens and the Board of Control for Cricket in India (BCCI). Under the new tax regime, individuals with an annual income of ₹7 lakh are subjected to a 10% tax rate, whereas the BCCI, boasting an annual income of ₹17,000 crore, enjoys a 0% tax rate. This stark contrast has sparked widespread criticism and discontent among the middle and working classes, who feel unfairly burdened by the tax system.
What we got in budget:
Taxes, Taxes & Taxes
-STCG Tax 20%
-LTCG Tax 12.5%
-Dividend Tax 15%No relief for Middle class
— Curious Shubham – NISM Certified (@Curious_Shubh) July 23, 2024
Social media platforms and public forums have been abuzz with indignation, as many argue that the government’s policies favor large corporations and wealthy entities over average taxpayers.
Also Read: Union Budget 2024: Major boost for students and youth employment
Critics have accused the government of pandering to influential bodies like the BCCI, questioning the equity of the tax system. “This budget clearly shows where the government’s priorities lie—protecting the interests of the rich and powerful rather than the common man,” said a prominent economic analyst during a television debate.
The controversy has fueled calls for more equitable tax policies, with many urging the government to reconsider its stance and ensure that tax burdens are fairly distributed. As discontent simmers, the debate over tax equity is likely to intensify, putting pressure on policymakers to address these concerns in future fiscal strategies.
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