This suggestion is to set right the step motherly treatment given to salaried tax payers, by not giving them any deduction against the salary income. unlike other heads of income where legitimate expense are allowed to be deducted from the gross income, there is no deduction allowed from the salary income. infact there are lot of expense which are directly related to earning of salaries whcih includes education, training and related expense. I understand that if deduction is allowed on actual basis, this may be misutilised. but again 15 or 20% deduction with a upper limit of 200,000 whichever is less can be a good idea to give equality accross the tax payer comunity.
In the new tax code, NRIs are going to be taxed on their income earned in India without giving them the basic exemption limit.NRI's are also going to be taxed on their residences in India based on a notional rent whether. This may please be relooked at.
Individual Assessee pay lot of amount towards Service-tax which is not getting offset against the Income-tax payable. while the companies avail the service-tax benefit the poor ordinary tax payer is unable to adjust the same.
Almost every year, when budget is out, the salaried people, especially the middle level, are badly squeezed from all corners, making their life miserable. Tax payable by them is always on higher side when their salary and the expenses are compared. Govt. should do some balancing action so that the middle level salaried people are less burdened with tax. Strict control should be maintained on the unnecessary expenses being made by Govt. deptts. Example, Mayawati's statue projects, ministers unnecessary travel and other expenses, misuse of MP/Ministers/MLA funds etc.etc.
1) Pl. exempt the pension received by retired persons from Income tax 2) Please exempt fron income tax the interest received from the Senior citizen pension scheme. The tax received by the givernment is very small but it will make adifference to old retired people who have to face growing inflation in essential commodities.
- Abolish income tax and disband the CBDT. Income tax is the zenith of evil and immorality and illegal as well. It’s a cruel system which punishes good and penalizes ability. Only a depraved society can tolerate a reprehensible, and despicable thing called income tax. Government has no business to indulge in any economic activity thus trampling the individual rights. Government should get out of all forms of production i.e. it has no right to run railways, state transports, airlines, hotels, mills, steel plants and any industrial or commercial activity. It’s abominable to do so and illegal as well.
Scrap MRTP, FEMA, COFEPOSA and host of other economic laws which has done more harm than all the jihadis put together.
