all transactions should be made against a bill/receipt. thought it is encouraged, it is not much in practise. if everyone from petty shop, auto driver, textile shop to big traders give the bill to customers, more transperance in the business will appear and more taxes to the government. there should be more part time tax inspectors or voluntaty tax inspectors or a dedicated helpline should be setup to report transactions without bills. appropriate action should be taken against such practises fron income tax department. this will increase the total tax of the country.
30% slab should be for more than 12 LPA. as the major tax is collected from salaried class, some additional benefit should be provided to the salaried tax payers.
short term investment for a period of 6 months should also attact tax exemption at lesser percentage. this will encourage more people to invest rather than keeping in savings.
The finance Minister should abolish tax on short term gains up to some ceiling typicall up to 5.0 lakhs The average investor on an average makes little if any gains from short term investments. Putting a ceiling on short term would help the average investor and encourage investment and conformance and would be very healthy for the Indian investor.
Posting a message or a scrap here is an exercise in futility, for neither the FM nor the Govt is gonna read or act on what we painstakingly and earnestly write here. It is the common man who bears the brunt of everything - price rise, income tax, service tax, sales tax, terrorism, corruption, nepotism, red tapism and what not. There is nothing the Govt will do to give what the common man deserves in return for contributing so much to the Indian economy. The politicians contribute nothing, are insulated from every possible problem, have a host of fringe benefits, but never get to tax themselves for all the luxuries they enjoy. I might sound cynical, but that is what I have become waiting for some action from these so called 'deshoddarakas' (reformers of the country).
NOW RENTAL INCOME OF RS.1.20 LACS PER ANNUM AND ABOVE IS TAXABLE AS TDS. PLEASE MAKE THE RENTAL INCOME UPTO RS.2.40 LACS PER ANNUM AS TAX FREE. OLD PEOPLE WHO RENT OUT THEIR HOUSE ARE SUFFERING,
A number of steps take to broadent he tax net have only affected the salaried class. we are the one who are easier to target as we can not hide anything from the IT department. But that should nto mean we are always made the scapegoats and businessmen and self employed professionals take all the advatages of Tax laws. Spare us please,a dn broaden tax net to incclude people who earn a lot more than us but pay nothing as comapred to us.
A number of steps take to broadent he tax net have only affected the salaried class. we are the one who are easier to target as we can not hide anything from the IT department. But that should nto mean we are always made the scapegoats and businessmen and self employed professionals take all the advatages of Tax laws. Spare us please,a dn broaden tax net to incclude people who earn a lot more than us but pay nothing as comapred to us.
