Why President of India Don't Pay Tax?
Well, all the revenue received by the government through taxes and loans are kept in the Consolidated Fund Of India, so in short, you are paying indirectly to the President. Now President of India said that he pays 2.7 lakh Rupees tax. and people started questioning.
They thought his salary is not taxable (no tax is applied on his salary) then how can he pay tax? But it's not true, the salary of the president is taxable, which mean tax is applied then a salary of the president too, like to common people's salary. So, the amount of tax you pay on your salary, e same tax is paid by Mr President.
But if he wants he can make his salary tax free, in fact not only he but you too. For this, you have to transfer your entire salary to the Consolidated Fund Of India. Your entire income will be transferred to the Consolidated Fund Of India. No salary, no tax, simple.
Now President said that he gets 5 lakh rupees per month as salary out of which 2,75,000 goes to tax. But, because of COV!d, there was a 30% reduction in the Salary of Government Employees, which mean now the president is receiving 3.5 Lakh as salary. Now Deducting 30% as tax from 3.5 lakh, his on hand salary 9 becomes 2,45,000 Rupees.
Now when President said he pays 2,75,000 Rupees as tax, he might have mistaken that his salary is 5 lakh and on hand he is receiving only 2,45,000 Rupees which means around 2.7 lakh is deducted as tax. But because of COV!d his salary was reduced from 5 lakh to 3.5 lakh. Talking about Salary, how can we forgot Respected Dr APJ Abdul Kalam. He used to 9 donate his entire salary to charity.
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