Dear Mr. Finance Minister, The Salaried class as everyone acknowledges is always thw worst hit.Massive relief is needed to uplift this class and encourage them to save and also spend.Afterall this class is the most loyal due to the very natureof TDS.Some suggestions please.
1. The basic exemption is to be kept in tune with realities and toencourage thrift and consumption at the same time in view of the proposed DTC. Therefore the basic exemption should be at a minimum of Rs.5 lakhs. 2.The hard earned savings through EPF,FPF need to be protected and should be out of EET net.
3.Insurance is an important aspect and withdrawals on maturity should be out of EET net. 4. Medical Insurance benefits should be improved to a great extent and all pre-existing issues covered. At the same time there should also be increased exemption up to Rs.25000.p.a and increased slab for other categories. 5.Gratuity limit should be enhanced to at least Rs. 10 lakhs.And CBDT should notify the same immediately. However it would be a boon to all salaried class if entire gratuity is exempt if received on superannuation. 6.80 Ec should be removed except for EPF,PPF,LIC, Housing Loan. 7. Housing loan limit should be at least 1 lakh.
8. Exemption under EPF,PPF,LIC, Housing Loan shoud be at least 2 lakhs.This will make the basic taxable limitation more and the salaried class will be happy. ..Contd....
Re: Income TAX
by driamforindiaalways on Feb 02, 2010 04:05 PM Permalink
9. Capital Gains should be at flat 5% on sale and all indexation and so on removed. This could mop up more revenues.
10.An MAT of 2% on all business incomes ( Profits after Depreciation and interest) removing all other business tax exemptions and business tax will increase the tax base.
11. Central Excise, Customs, CED,VAT,CST,etc should be given as credit to all industries, products for renewable energy, solar energy, drip irrigation and the benefits should be passed on to consumers in the invoice.
12.All autos, buses, trucks, rickshaws, plying in all cities and towns should compulsorily run on natural gas.
Prices are rising... Essential commodities and groceries prices are rising every day. Now, petrol prices and home loan interest. which indirectly effect the prices of all the household items. The incometax slab should also be increased.
Why need to give exemptions? Why make the taxation complex by allowing various sections. Let there be uniform taxation with slabs defined. Let everybody in this country participate in the development of the nation.
Why need to give exemptions? Why make the taxation complex by allowing various sections. Let there be uniform taxation with slabs defined. Let everybody in this country participate in the development of the nation.
Market price of essential commodities are beyond the reach of people but the GDP etc are much more than satisfactory as per Govt's view. Supply of the materials like vegetables etc are abundant. There is a fallacy. Can we expect a pragmatic solution from the Budget by introducing something like HDI [Human Development Index]. Let us hope for the better in real term.
Market price of essential commodities are beyond the reach of people but the GDP etc are much more than satisfactory as per Govt's view. Supply of the materials like vegetables etc are abundant. There is a fallacy. Can we expect a pragmatic solution from the Budget by introducing something like HDI [Human Development Index]. Let us hope for the better in real term.
We are salaried class people. We pay our taxes honestly and take home our incomes or whatever is left of it. We run our households on this income, educate our kids and we do not want to do it in government and MCD schools by any means. We spend hefty amount of medical insurance but apart from that we need to pay doctor fees and other medications that do not warrant hospitalisation and are not covered by mediacl insurance. We buy food and other necessary groceries at exhorbitant prices, we save money for our future and for the future education of our children. we pay electricity bills and water bills. And on all these purchases we pay taxes sometimes VAT and sometimes service tax. The industrialists and commecial establishments are not bothered, you raise service tax, they raise our tax. We end up paying more taxes. Why cannot we get the same benefits that are being extended to such establishments, why cannot we deduct our expenses from our income. as the amount of 1.6 lac and 1 lac saving is just an eyewash and does not help us much. I'm no finance wiz but I do know I will spend more if I have more, putting more money in my hand will ensure more spending by me and that only will boost economy of the nation. We need a developing nation, a vibrant economy not one nation that sucks my blood by the way of taxes. I do not know if rediff will actually take this to you but if they do and you actually happen to read this, then do not forget that we are the foundation of nation
PM calls economic crash for 90% people just a mere food crisis, how much of twisting and lie, it is not JUST FOOD PRICES... it is bigger problem of addiction to OVERPRINTING OF CURRENCY. following BJP policy where "overprinting currency = GROWTH" aped by congress that backfired,
THE Indian economy has crashed for 90% indians, all these rhetorics are to divert. Hate thackreys to the rescue/diversion.
MMS transfer the blame to states for dismal economic state due to overprinting of currency...
Obama does diversion for his dismal performance by telling stories about india and china threat.
Montek says we will print more currency than china and overtake them even if all indians are dead...
Look at sorry state of over-agression in agriclture (like overprinting rupee), too much fertilizers, pesticides and deeper digging for water has made barren lands all over india...
Rise in exports??? just a story for 10% when economy has crashed
