Currently U/S 80C exemption limit is Rs 1Lakh. If that is increased without touching the basic exemption limit to Rs 3 Lakh, the vast middle class will save more by Rs 2Lakhs to save individual tax, which in return is a huge opportunity for the govt to have such funds be invested in various agricuture, industry, power & infrastructure projects.
India as a country should bring adequate law for protecting the interest of those working in private sector.Their should be a law so that one fine morning their wont be any Job loss.A notice a six months should be made compulsory.If government sector employees have a life time assurance of job why its not relevant for at least six months.All pay the same TAX.
Dear Finance Minister, I think that if you make a single tax of 4% for income tax for all the people,wheather a person is earning Rs 100 or Rs 100 crore, your tax collection will be much higher than what you are collecting now and no body will try to cheat the tax department
Following are my suggestions 1. No tax is to be levied on Sr.Citizens and disabaled persons 2. No difference between male and female for taxation 3. Refund within one month through ECS compulsory 4. Saral form is to be used for all individuals status 5. Tax table shoild be as per follwing table Rs.1 to 3.00 lakhs Nil 3.00 to 5.00 10% 5.00 to 10.00 20% above 10 lakhs 35% 6. No surchage and any other cess. Tfr whatever tax amt to different ctg's internally 7. Exemption to be removed for Agriculutural income 8. Tax on all social workers like Corporators,MLA's,Khasdar's,Ministers straight 50% 9. Exemption to all Military people in all three catageories. 10. Education is to be free to all indians provide for that activity without any limit
the finance must reduce income tax and service tax. At the same time plethora of exemptions given must be ended. This will simplify taxation and help in better administration. It will also help honest taxpayers.
India as a country should bring adequate law for protecting the interest of those working in private sector.Their should be a law so that one fine morning their wont be any Job loss.A notice a six months should be made compulsory.If government sector employees have a life time assurance of job why its not relevant for at least six months.All pay the same TAX.
Following are my suggestions 1. No tax is to be levied on Sr.Citizens and disabaled persons 2. No difference between male and female for taxation 3. Refund within one month through ECS compulsory 4. Saral form is to be used for all individuals status 5. Tax table shoild be as per follwing table Rs.1 to 3.00 lakhs Nil 3.00 to 5.00 10% 5.00 to 10.00 20% above 10 lakhs 35% 6. No surchage and any other cess. Tfr whatever tax amt to different ctg's internally 7. Exemption to be removed for Agriculutural income 8. Tax on all social workers like Corporators,MLA's,Khasdar's,Ministers straight 50% 9. Exemption to all Military people in all three catageories. 10. Education is to be free to all indians provide for that activity without any limit
Dear Finance Minister, I think that if you make a single tax of 4% for income tax for all the people,wheather a person is earning Rs 100 or Rs 100 crore, your tax collection will be much higher than what you are collecting now and no body will try to cheat the tax department
