Income Tax | Provisions relating to Income chargeable under head Salaries under Income Tax Act, 2026
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Monday, 14 September 2026
Income Tax | Provisions relating to Income chargeable under head Salaries under Income Tax Act, 2026
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https://www.youtube.com/watch?v=1ptvAUAHVpA
China’s Manufacturing Hub Collapses: Tallest Tower Becomes Ghost Building, 100K Taiwanese Firms Flee 14 September 2026 #chinaobserver
Suzhou is known as China’s strongest prefecture-level city, but its economy is now declining at an astonishing pace. A blogger randomly selected several office buildings in Suzhou with impressive exteriors and went inside to see what was really happening. comments @Lee-jyhn-z3j 2 hours ago Almost every foreign company that has invested in China has had its technology stolen. China steals technology from Taiwan, the United States, the EU, Japan, and South Korea, while fabricating pretexts to detain innocent employees from those countries for extended periods.
China brazenly boasts about the technology stolen from numerous companies, claiming it as its own.
Overseas companies that have understood this will likely never invest in China again.
@ThomasHamelin-p1t 2 hours ago China is a total fraud!!!
@mark7s980 1 hour ago Why are people sleeping on the streets with all these vacant buildings? (Perhaps like India) Transcripts : The skyscrapers in the strongest prefecture level city are really something else. Let me randomly pick a few and see what the situation is like inside. It's completely empty. See that?
0:2727 secondsIt's all empty. Do you know why the companies in this building all have the word technology in their names? Because I just heard the building manager say
0:3535 secondsthat when some companies want to move in, she reminds them that their company names need to include the word technology. He said the building in
0:4343 secondsfront of him was basically empty. Many companies that had moved in had their glass doors locked. Their hallways were filled with clutter, and even the elevators had not been fully installed.
0:5353 secondsThe building only had its exterior completed, while the inside was almost empty. The blogger also visited the Sujo International Finance Center, the
1:011 minute, 1 secondtallest building in the city. He said the people inside were not really white collar professionals, but were likely workers with only a junior high school
1:081 minute, 8 secondseducation, making harassment calls and running scam operations.
1:161 minute, 16 secondsThe main entrance has a revolving door and it looks pretty impressive. All right, we're inside now. Let's see what kinds of companies are here. information
1:251 minute, 25 secondsconsulting companies, information related companies, and some empty offices with foreign rent signs. This one is an internet technology company.
1:331 minute, 33 secondsThey're all based on these vague concepts. Look here, it's all empty. I don't need to say more, right? It looks impressive from the outside, but inside
1:421 minute, 42 secondsit's completely empty. They can't even rent these spaces out. If even the most famous, tallest buildings in Sujo is
1:491 minute, 49 secondssitting empty, then the situation in ordinary office buildings is even worse.
1:541 minute, 54 secondsNow they are just waiting for real estate agents and leasing companies to rent these places out. They're waiting for them to make those harassment calls.
2:012 minutes, 1 secondLook outside. Across from us is Gingi Lake and in front is the gate of the Orient. Below us is Time Square. This is
2:082 minutes, 8 secondsSudro's financial district. It seems I was too conservative before. I found there are far too many vacant spaces
2:152 minutes, 15 secondshere. The 18th floor is also completely empty. I should say around 80% of the offices are vacant. The blogger said
these buildings are like China's economy. They look magnificent on the outside but are actually just empty shells while everything inside already
2:302 minutes, 30 secondsdeteriorating. This is Guanchen Street in Sujo. 30 years ago it was the top commercial district in town bustling
2:382 minutes, 38 secondswith activity. Today there are barely any tourists left.
2:452 minutes, 45 secondsFriends, how long have y'all been in Sujo before finding a job? Looking for work these past few days has really worn me out. I truly feel that finding a
2:522 minutes, 52 secondssatisfying job here is extremely difficult.
2:582 minutes, 58 secondsYou have to admit fewer and fewer migrant workers are coming to Sujo.
3:013 minutes, 1 secondCompared with previous years, if it were this time of year, the streets would be filled with the sound of rolling luggage and packed with people. But what's
3:103 minutes, 10 secondshappening now? The streets are almost empty and you can't even hear the sound of suitcases anymore. Sujo as the top prefecture level city and a paradise for
3:193 minutes, 19 secondsworkers doesn't even have people coming here anymore. Do you know why?
3:233 minutes, 23 secondsA Chinese vlogger recently revealed on Doian over one weekend I watched two videos.
3:323 minutes, 32 secondsOne was about Fuji Carbon and the other was about Toyota. Both are said to be leaving Kungan. Japanese companies have
3:403 minutes, 40 secondsbeen leaving Kung Shan for a long time, but this year two more major companies are leaving all at once. This is quite surprising. More and more companies are
3:493 minutes, 49 secondsleaving Kunan. Comments from users were also interesting. Fuji Carbon gave employees a very generous compensation.
3:573 minutes, 57 secondsThe good ones are leaving, but what happens when the bad ones come in? Many Taiwanese companies and foreign funded companies have left. Quinshan is no longer the same environment as before.
4:074 minutes, 7 secondsLeaving is the right choice. Quinshan is a county level city in Djang Su province and is administered by Sujo. Its economy
4:154 minutes, 15 secondswas once highly developed. It ranked first among China's top 100 counties and was a major hub for Taiwanese investment. However, in recent years,
4:244 minutes, 24 secondslarge numbers of Taiwanese businesses have withdrawn from Kenshan. Some reports claimed that Quan once had 100,000 Taiwanese business owners, but today only around 4,000 remain.
4:374 minutes, 37 secondsThis past couple of days, another Taiwanese company has been trying to sell off its assets, and the owner plans to return to Taiwan for development.
4:464 minutes, 46 secondsThis piece of land is quite large. The land alone covers nearly 33 acres, and the buildings cover about 2.2 million
4:544 minutes, 54 secondssquare ft. One person posted on social media, "Sujo has a population of 13 million,
5:035 minutes, 3 secondsbut now you can barely see many people anywhere. This includes tourist attractions, shopping malls, and hotels.
5:095 minutes, 9 secondsAt night, hotels should normally be full of people, but now there are very few.
5:145 minutes, 14 secondsThe same goes for office buildings. Even factories and rural areas have very few people. Back when we had just entered
5:215 minutes, 21 secondsthe workforce, whenever we went outside, there were people everywhere. Everywhere was crowded.
5:275 minutes, 27 secondsIndustry insiders pointed out that in the first quarter of 2026, the average vacancy rate for grade A office buildings in Sujo reached 30.2%.
This figure is not just high, it's unusually high. More importantly, Sujo is showing an unusual trend. Vacancy
5:445 minutes, 44 secondsrates in core business districts are actually higher than the citywide average. Under normal circumstances, core business districts have
5:515 minutes, 51 secondsconcentrated foot traffic and dense commercial activity. So, office vacancy rates should be lower than the citywide average. This is the pattern seen in
5:595 minutes, 59 secondsmajor cities around the world. However, Sujo is moving in the opposite direction. Surveys show that the central business district vacancy rate in Sujo
6:086 minutes, 8 secondsIndustrial Park has reached 37.8% 8% while the traditional GU business district has a vacancy rate of more than 40%. These figures look even more unusual when compared internationally.
6:206 minutes, 20 secondsGenerally, when CBD office vacancy rates approach 15%, major international media begin publishing extensive analysis and
6:276 minutes, 27 secondsconcern. For example, by the end of 2025, office vacancy rates in Hong Kong CBD reached 17 to 18%, which was already described as an apocalyptic situation.
6:396 minutes, 39 secondsBy that standard, a 40% vacancy rate in Sujo central business district suggests that the loss of consumers could exceed 50% and possibly even reach 70 to 80%.
6:496 minutes, 49 secondsIt should also be noted that even units not officially counted as vacant may not be operating at full capacity. Some may only have a small number of remaining
6:576 minutes, 57 secondsemployees or may still be in a transition period before the lease ends.
7:027 minutes, 2 secondsCompanies often move to new locations and settle employees and equipment before terminating their old leases.
7:087 minutes, 8 secondsDuring this overlap period, remaining staff may continue receiving customers while informing them that the company has already moved. Therefore, the actual
7:167 minutes, 16 secondsdecline in consumer traffic may be far greater than the vacancy figures alone suggest. The unusually high vacancy rates in Sujo's core business districts,
7:247 minutes, 24 secondswhich go against normal patterns by exceeding the citywide average, highlight deeper structural problems in commercial activity and population movement. The situation may be far more
7:337 minutes, 33 secondsserious than the numbers on the surface indicate. A local Sujo resident said in a video,
7:437 minutes, 43 seconds"I was born and raised in Sujo. The challenges Sujo is facing are among the most serious in the country. Sujo is
7:507 minutes, 50 secondstruly in a very difficult situation now." The blogger said this was not just his personal speculation. He cited wording from the 2026 Chinese government
7:587 minutes, 58 secondswork report, saying it revealed some serious problems. Employment pressure among key groups has increased. raising incomes has become more difficult and
8:078 minutes, 7 secondsindustrial transformation is facing multiple challenges. It also stated that public services such as education, health care, childare, and elderly care
8:168 minutes, 16 secondsstill fall short of people's expectations and that grassroot finances face prominent revenue and expenditure pressures with many risks in key areas.
8:258 minutes, 25 secondsHe said the Sujo government has no choice but to confront the difficult situation. He asked whether Sujo Industrial Park, the area the city has
8:338 minutes, 33 secondsmost been proud of, is now facing problems. What is the current situation for foreign funded companies and contract manufacturing industries there?
8:418 minutes, 41 secondsHe said there was no need to explain further because everyone already knows. There are fewer people on the streets. Consumer spending has not recovered.
8:488 minutes, 48 secondsFactories lack workers and many factories have already moved away.
8:528 minutes, 52 secondsCommenters from users included, "Sujo is going bankrupt. I stayed in Sujo for 20 years and still couldn't make any money." This is basically the reality of
a city heading toward collapse. I have lived in Sujo for 30 years. To be honest, the cost of consumption here is too high and the city treats outsiders
9:099 minutes, 9 secondsvery poorly. Even though the city develops because of people from other places, many new Sujo residents may have to return to their hometowns and farm.
9:189 minutes, 18 secondsRegarding why the city's economy has become so difficult, the blogger said,
9:279 minutes, 27 seconds"So many people are interested in why Sujo's economy is declining. First, Sujo's economy is heavily influenced by
9:349 minutes, 34 secondssurrounding counties, which one has the biggest impact. It is Kunan. Kunan ranks first among China's top 100 counties.
9:439 minutes, 43 secondsAnd it is not just once. It has remained at the top for years. Therefore, Sujo's economic downturn is inseparable from
9:509 minutes, 50 secondsKungshan. Why has Kungshan's economy declined? To understand that, we need to understand how Kungshan became the top county level economy in the first place.
10:0010 minutesThe most important reason was Taiwanese businesses. He said that at its peak, Quinshan attracted more than 100,000
10:0710 minutes, 7 secondsTaiwanese business owners, mainly in the electronics industry. At the time, Quinshan had almost the entire supply chain for companies such as Foxcon and
10:1510 minutes, 15 secondsASUS. From component manufacturing to final assembly, the entire industrial chain could be completed locally. Today, much of the supply chain has moved to
10:2410 minutes, 24 secondsSoutheast Asia and even India, where labor costs are lower. Quinn's former glory as an electronic manufacturing hub, has largely disappeared.
10:3410 minutes, 34 secondsFor example, Ginga Opto Electronics, which operated in Quinshan for 23 years, once employed 2,000 workers at its peak
10:4110 minutes, 41 secondsand had a total investment of $30 million US. The company mainly developed and manufactured liquid crystal displays, touch panels, and other new
10:5010 minutes, 50 secondsdisplay components and modules. However, in April 2024, the company announced its dissolution. Taiwanese PCB manufacturer
10:5810 minutes, 58 secondsby Chung Technologies suspended production at its Quinshan factory starting in September 2024. The factory previously had a production capacity of about 300,000 square feet per month.
11:0911 minutes, 9 secondsAfter the shutdown, customer demand and supply were temporarily transferred to its factory in Nanong Jang Su Province.
11:1611 minutes, 16 secondsTaiwanese company Dingshing Electronics, which had operated in Quinshan for 30 years, withdrew from the city in 2024 and transferred its land back to the
11:2511 minutes, 25 secondslocal government. Founded in 1998, the company had nearly 5,000 employees and produced highdensity interconnect boards
11:3211 minutes, 32 secondsas well as traditional printed circuit boards for consumer electronics, automobiles, and industrial applications. One of Quinshan's most
11:4011 minutes, 40 secondsrepresentative Taiwanese companies was printed circuit was founded by the late Taiwanese businessman Wuen and was once the largest Taiwanese investment project
11:4911 minutes, 49 secondsin the Quinshan development zone. In 2025, the company announced plans to list in Hong Kong. Although this was not a direct withdrawal, industry insiders
11:5811 minutes, 58 secondssaid the move reflects a broader trend among leading Taiwanese companies to adjust their capital strategies and expand overseas financing channels.
12:0612 minutes, 6 secondsFacing the collective withdrawal of Taiwanese businesses from Kungshen, Chinese authorities have repeatedly denied the trend. However, according to
12:1312 minutes, 13 secondsHong Kong media reports, supply chain relocation caused by US China competition have already made the departure of Taiwanese businesses an
undeniable reality. According to a report by Hong Kong's South China Morning Post, Quinshan has repeatedly ranked as China's strongest county level
12:3012 minutes, 30 secondseconomy. The industrial park built by Foxcon, Apple's major manufacturing supplier in the northern part of the city has been operating for more than 30
12:3812 minutes, 38 secondsyears. Even the Chinese Communist Party state media outlet People's Daily has acknowledged that over the past 20 years, Taiwanese businesses have been
12:4612 minutes, 46 secondsthe most important economic pillar in Quenshan. Taiwanese investment and companies contributed 30% of the local
12:5212 minutes, 52 secondsGDP, 50% of industrial output, 60% of foreign investment, and 70% of imports and exports. As a result, Kungshen
13:0113 minutes, 1 secondbecame one of the wealthiest cities in China. However, since 2023, reports have emerged that Foxcon and several Taiwanese companies were considering
13:0913 minutes, 9 secondsleaving. In response to reports that one-third of Taiwanese businesses had already withdrawn, the CCP's Taiwan Affairs Office strongly denied the
13:1813 minutes, 18 secondsclaims. However, Chinese authorities appear to have concealed the true situation. Media reports revealed that Taiwanese business owners who remain in
13:2613 minutes, 26 secondsthe area have deeply felt the impact of the departures. For example, Taiwanese business gatherings have become much smaller. At their busiest, these events
13:3513 minutes, 35 secondscould barely fill 20 tables. A major contrast to the past when they could have easily filled more than 30. In addition, rising production costs in
13:4313 minutes, 43 secondsChina have become another major factor behind Taiwanese companies leaving.
13:4613 minutes, 46 secondsAfter the US China trade war began, manufacturing costs in China increased further. Taiwanese companies found that since 2018, their overseas customers had
13:5513 minutes, 55 secondsfaced growing pressure and eventually decided to shift production to places such as Vietnam and Thailand. Other reasons behind the departure include
14:0414 minutes, 4 secondsChina's economic stagnation after the pandemic. Many Taiwanese business owners now simply want to shut down operations, sell their assets, and return to Taiwan
14:1214 minutes, 12 secondsfor retirement. Analysts say that in mainland China, the departure of Taiwanese companies has attracted more attention than the withdrawal of other
14:2014 minutes, 20 secondsforeign companies or even private Chinese firms. This is because Taiwanese companies mainly produce export- oriented electronics while exports
14:2814 minutes, 28 secondsremain one of the few remaining sources of economic growth for China. This has directly affected the Chinese authorities ambitions to catch up with the United States and high-tech
14:3614 minutes, 36 secondsindustries. Some analysts believe that the continued tensions between the two sides of the Taiwan Strait could trigger a new wave of Taiwanese business
14:4414 minutes, 44 secondsdepartures. China's economy, especially the Sujo and Quinshan regions, could suffer another major blow. Director of the China Institute at Foudan University
14:5314 minutes, 53 secondsin Shanghai, Jean Wei Weii is known as a mentor to Xi Jinping. He mentioned the possibility of forcibly unifying Taiwan
15:0015 minutesduring a speech at Wuhan University in 2025. He said the timing to resolve the Taiwan issue is becoming increasingly mature. Maybe one day you will wake up
15:0915 minutes, 9 secondsand Taiwan will have been liberated. The remarks triggered criticism from people in Taiwan. Recently, the Asia Finance
15:1615 minutes, 16 secondsaccount on X said that similar remarks had frightened away large numbers of Taiwanese businesses and caused the withdrawal of at least 25 million jobs.
The article said that Taiwanese investment in China peaked around 2010, accounting for more than 70% of Taiwan's total overseas investment. However, in recent years, it has declined sharply.
15:3615 minutes, 36 secondsBy 2024, Taiwanese investment in China had fallen below 10% with large amounts of capital shifting toward emerging
15:4315 minutes, 43 secondsmarkets such as Southeast Asia, India, as well as Europe and the United States.
15:4815 minutes, 48 secondsAccording to Asia Finance data, major electronics manufacturers including Foxcon, Quant Computer, Compaul Electronics, and Winstrin have
15:5715 minutes, 57 secondssignificantly expanded production lines in India, Vietnam, and Mexico. During the peak period of Taiwanese investment, Foxcon alone employed more than 1.2 2
16:0616 minutes, 6 secondsmillion workers in [clears throat] China. Together with a huge number of jobs in electronics components, footwear and clothing, machinery, manufacturing,
16:1416 minutes, 14 secondsand service industries, companies such as Master Kong, Uni President, and Wand employed an estimated 8 million workers
16:2116 minutes, 21 secondsin China. Manufacturing also has a 1 to5 employment multiplier effect, meaning one direct hire can support five
16:2816 minutes, 28 secondsadditional jobs in related industries such as component suppliers, logistics, restaurants, and rental housing. At the height of Taiwanese investment,
16:3616 minutes, 36 secondscompanies in coastal areas such as Kungshan, Donguan, Shenzhen, and Sujo indirectly supported an estimated 25
16:4316 minutes, 43 secondsmillion to 40 million jobs. Among them, Kungshen attracted the most attention.
16:4816 minutes, 48 secondsKnown as Little Taipei, more than 70% of its GDP was contributed by Taiwanese businesses. In areas such as Donguan,
16:5516 minutes, 55 secondsthe relocation of Taiwanese factories also led to a closure in many contract manufacturers and a decline in migrant workers. This has led to ripple effects
17:0417 minutes, 4 secondsin local housing, restaurants, retail, and other service sector jobs. Analysts say remarks by figures like Jang Weei
17:1117 minutes, 11 secondsreflect the contradictory and divided mindset of Beijing authorities and Xi Jinping. On one hand, they still want to use Taiwanese investment and even
17:1817 minutes, 18 secondspressure Taiwanese businesses as leverage against the current Taiwanese government. Therefore, they continue to deny large-scale withdrawal of Taiwanese
17:2617 minutes, 26 secondscompanies and create the impression that Taiwanese businesses still receive favorable treatment in mainland China.
17:3217 minutes, 32 secondsOn the other hand, because of political instability and intense internal struggles, a hardline stance toward Taiwan and the possibility of an
17:4017 minutes, 40 secondsinvasion has become a political tool that Xi Jinping cannot abandon. As a result, Beijing has consistently used a combination of pressure and incentives attempting to divide and influence.
17:5217 minutes, 52 secondsHowever, Taiwanese business owners understand their own situation best.
17:5517 minutes, 55 secondsEmpty storefronts on the ground are the best depiction of reality.
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