Reaction to the New Income Tax Slab: Viral Post Sparks Controversy on Social Media
A post by a fintech technologist about income inequality in India is going viral, in which he claims that anyone earning less than ₹60 lakh per year should be considered poor. The technologist made this statement while responding to a post about the new income tax slab introduced by the government in the Union Budget. Meanwhile, his post has sparked strong reactions on social media, with many users criticizing his perspective, leading to a new controversy online.
“Are You Acting Poor with a ₹24 Lakh Salary?”
“Only IT professionals are complaining about tax breaks up to ₹12 lakh today. For many people outside the IT sector, even ₹12 lakh is a dream salary, even after 7-10 years of experience. Those earning more than ₹24 lakh should stop calling themselves lower middle class. If you’re earning over ₹12 lakh, stop complaining. Check the average salary in India and understand your financial status. Are you really acting poor with a ₹24 lakh salary? Please stop this,” the first post stated.
“So You’re Not Rich…”
In response, the fintech technologist argued that anyone earning less than ₹60 lakh per year should be considered poor, claiming that nearly 70% of income is paid in the form of taxes, including GST and VAT.
He stated in his post:
“An employee whose annual income is less than ₹60 lakh is poor. You pay 70% of your income in the form of GST, income tax, and VAT. Those earning between ₹60 lakh and ₹1 crore per year are middle class. People with an annual income of more than ₹1 crore are upper middle class. If you don’t have generational wealth, you are not rich.”
He further added,
“If you earn ₹60 lakh per year, it will take at least 5-6 years to buy a flat in a metro city while supporting a partner and two children.”
