This is commic budget by the commic finance minister. It's obvious that budget have been design to appease commic communist party of india. All the provision are anti am admi.As the member of middle class community i fervently belive that finance minister and congress party has deserted me.
This is the same congress party which bouch back in power due to appeasement of am admi they ( congress party) stab on our back. The buget itself demonstrate the lethargic approach of congress party to address the grievance of am admi.
As am admi i belive that congress party is using us like once on those sugarcane which are used in sugarcane juice center where they extract juice from that sugarcane and reuse till there is no juice left..
It's time to teach this pseudo secular congress party a lesson. Let make a fervent commitmment that we will kick congress ass in the forcoming election.
RE:Tax exemption on aviation turbine fuel sold to turbo prop aircraft extended to all small aircraft less than 40,000 kg.
by DEVADAS SHENOY on Feb 28, 2007 03:23 PM
they remain in the parliment to decide the fate if India you salaried people go for picnic when election falls on a saturday.Isit not true
RE:Tax exemption on aviation turbine fuel sold to turbo prop aircraft extended to all small aircraft less than 40,000 kg.
by Indumathi Mariappan on Feb 28, 2007 02:20 PM
very well said
The Hon'ble Finance Minister of the Government of India has just placed the budget before the nation. Here are my comments as an interested bystander :
A. Individual
1. This budget is extremely harsh on the salaried middle class. In my opinion the FM has shown remarkable short-sightedness not to say miserliness in not increasing the tax exemption limit. In my opinion the exemption limit should be raised to Rs. 5 lakhs, since the definition of middle-class has changed from before.
2. The rate of tax is also high. This I feel should be brought down in line with global standards to a maximum of 20%. In view of the strong growth of the Indian economy and better tax realizations, this should have a neutral revenue impact.
B. Corporate
1. Here the no. 1 problem is I think in the plethora of taxes unleashed by the FM. Please remember, if companies have to pay more tax, they will pass on the same to the consumer, thus leading to high inflation. At present companies have at a minimum the following taxes to deal with (a) Income Tax (b) Fringe Benefit Tax (c) VAT (d) Service Tax (e) Excise. Bear in mind, these are only the central taxes. Apart from these, companies have to deal with (a) Professional Tax (b) Octroi (c) Cess. This not only drains the resources from profitable companies where it would have been used productively. Also the overheads (and pain !) for maintaining so many different tax records puts a severe strain on the companies - especially the smaller ones. This burden should be removed forthwith. At the most one needs have just Income Tax and either Service Tax or Excise. Similarly states should do away with Professional Tax, Octroi and Cess and manage from the proceeds of VAT.
2. There should be an exemption for smaller companies for maintaining so many different tax records.
I would like to conclude with a couple of questions for the FM :
1. While there is a lot of talk about bringing more people into the tax net, nothing has been done so far in regard to the exemption given to agriculture. It is weel-known that several persons conceal their taxable income by declaring it as "income from agriculture". When can we expect to see Agriculture come under the tax net ?
2. What measures are being taken to reduce spending by the government ? We would like to see the government active in education, health, social welfare and defence sectors. It would reduce the drain on the financial exchequer if the government stayed out of all other sectors. In a modern democracy with a vibrant economy, the government should not have any need to be in business. This would help avoid the hard-earned money of the tax-paying public being frittered away.
3. Why is there a tax exemption for central and state governments for cash withdrawal from banks ? How are they more deserving than the rest of us ? What happened to equality of all - the basic tenet of democracy ?
4. I would request you to please explain what steps are being taken to make the government more accountable to the financiers of the government - i.e. the tax-paying public.
I hope that the time has finally come in India's history when such questions will be asked of our politicians so that they are made acountable to the Indian public.
RE:Comments on Union Budget 2007-08
by Venita on Feb 28, 2007 02:16 PM
We are an independent documentary makers, who have been asked to make a short film expressing the VOICE OF CITIZENS for a prominent news channel on what the budget means for YOU in 2007.
The schedule for the shooting:
NEW DELHI: 3RD MARCH 2007 -- 6PM--9PM JAIPUR: 4TH MARCH 2007 -- 11AM - 3PM MUMBAI: 7TH AND 9TH MARCH 2007 -- 3PM-- 8PM BANGALORE: 11TH MARCH 2007 -- 11AM --3PM CHENNAI: 11TH MARCH 2007 -- 4PM-- 8PM
Those interested to participate, please e-mail your Name, Age, City to kvenil@rediffmail.com We will revert back with the details of the venue in your city. You can also call to register at 09448209771
no relief for the middle class family its only for a rich person. can i ask mr.finance minister sir is country main sab koi ambani and tata group nahi hai maximum log middle class and poor person hai inke liye kabhie kuch karoge
The Salaried class are again taken for a ride. The increase of Rs.10,000 in basic exemption limit is meaningless. I think he missed another "0". The Exemption limit should have increased by 1,00,000 more and not just 10,000.
"Every Dog has its day" thanks the way inflation is being controlled not only rich peoples food but also for their pets.(But in science humans too are a kind of animal, therefore should this not be applicable for humans too?)Nothing said about retail market,Particepatory notes etc etc.This man is buying time only for the already rich.
