If I was FM,I would levy wealth tax of 50% those who earn(including all assets[movable & immovable] for that financial year) 50L-1Cr, 75% for 1Cr-3Cr and 90% of above 3Cr.And spend this revenue for free education,food,shelter and clothes to all below 18years old and make education is compulsory for everybody.
if i was the FM i would abolish all the import duties on imported medical equipments and implement a gold transaction tax of 35% and hike customs duty of gold to 70% and local tax for gold to 30%. in this way we can reduce trade deficits and import more oil and keep inflation in check.increase capital gains tax by 2%. then i would allow the rupee to be convertible on capital account which is also a best way to curb speculative capital inflows and reduce an asset buuble
First think i would be doing is remove the FBT and others charges and charge 5% for below 5lakhs 10% for up to l0lakhs and 20% for 20lakhs and 30 % for above 20lakhs. Upto 2lakhs there is excempted. above 2lakhs there is tax slab should start Only 1lakh for 80C/80D. Home loan interset - 1.5lakhs.
First think i would be doing is remove the FBT and others charges and charge 5% for below 5lakhs 10% for up to l0lakhs and 20% for 20lakhs and 30 % for above 20lakhs. Upto 2lakhs there is excempted. above 2lakhs there is tax slab should start Only 1lakh for 80C/80D. Home loan interset - 1.5lakhs.
It should be made mandatory to charge fixed minimum annual tax from any firm /co/org who wants to run business in the country. This will eliminate all false and inactive registrations, and would make them more dutiful towards nation.
Dear FM The Income tax should cover more people. Insted of cutting off first 2 lakhs, u please put atleast 5% on first 2 lakhs.10% on 2-5 lakhs and 20% on 5-25 lakhs. Also the IT return procedure should be made online and very easy.. for a people below 2 lakh bracket, they should be able to fill tax at maximum outlets, and in easieat possible ways. Increasing the coverage will give the people feeling that they are paying taxes and are contributing to the national development.
So that the amount willbe fixed for every job to be done in the offices, at least people will be happy that they haven't done anything against law. And those amount can be taxable - Govt will be benefitted, people will not have the stomuch burning after giving bribe.
Re: Legalize bribe in all govt departments.
by Jitesh Agrawal on Feb 22, 2010 02:05 PM Permalink
A better idea would be if govt says govt employees at all office which deals with common man wont get any salaries and the salary would be based on a percentage of fees collected for doing things then it can bring in efficiency and root out curroption.
The moment you bring in such a thing people will stop paying bribes as they too know that employee gets his salary only if work is done and fee collected
Re: Legalize bribe in all govt departments.
by Jitesh Agrawal on Feb 22, 2010 02:05 PM Permalink
A better idea would be if govt says govt employees at all office which deals with common man wont get any salaries and the salary would be based on a percentage of fees collected for doing things then it can bring in efficiency and root out curroption.
The moment you bring in such a thing people will stop paying bribes as they too know that employee gets his salary only if work is done and fee collected
So that the amount willbe fixed for every job to be done in the offices, at least people will be happy that they haven't done anything against law. And those amount can be taxable - Govt will be benefitted, people will not have the stomuch burning after giving bribe.
Sir, I draw your attention to compare Indian Panel code and Income tax. Theft or burgalary of Rs.50/ or any sum attract penalty & prison sentance for few months? Financial evasion of multi million RUPEES does not attract a single day imprisonment to any of office bearer who are liable for huge fraud. There are few citizen who obeys country\\\'s I T law. & in
