From Hindustan Times:

Over 10 lakh people own watches that cost Rs 2.5-25 lakh
25 thousand people drive Mercs in India
100 thousand people annually buy cars worth more than Rs 5 lakh

But...
Just 75 thousand people have taxable income of over Rs 10 lakh

I would say it is not mockery but fantastic tax planning

You might get much more glaring figures here in Canada (this is what I guess from doing tax returns of corporates and individuals here!) - may be because the smarter of the lot come to Canada as immigrants so they really know how to PLAN their income taxes.

By the way, I have been here about 4 years now and have had earnings off and on - say a total of about 150k in last 4 years. Any guess on Total NET tax paid till date by my family??

NEGATIVE!

Chandresh

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Chandresh

Advice is free – lessons I charge for!!

Kudos 2 ur Chandresh ,

I guess v really have a lot 2 learn 4m u .

Regds ,
Manasvi