Mr. FM has provided nothing for middle class. No tax cuts, no increase in allowable savings. No steps to bring down the already very high prices of commodities. No steps to boost industry. This budget is totally USELESS. It would have made no difference had he not presented the budget at all. Total thumbs down to Mr. Mukherjee.
A BIGG thumbs down to both of you ministers. We had a lot of expectations when we recently elected you and you have shattered them badly. At the times of Global Eco Crisis, pay cuts and Layoff - we were expected some tax reliefs and what we instead got is peanuts. Do they really feed that Medical comes only for 15,000 Rs annually for a family. No Change in Exemption on Home Loan Int repayment is another big smash on those who are finding it really difficult.
OverAll, we have been befooled by our own elected members.. A BIGGG THUMBS DOWN MR FM AND MR PM
There is hardly anything new other than abolishment of FBT and few lollypops in this new budget. I think he should have not wasted time and money on preparation of this new budget.
From his point of view he has done only one good thing that is too only for the benefit of Political parties i.e. exemption for the donations made to Electorals ( Smart guy, he knows to please her Madam).
Why should these political jokers should worry. They already have power for next 5 months to accumulate wealth for themselves and for their political akkaa.
I am not commenting on personal taxes but frankly speaking there is absolute nothing in the budget even for economy and the industry.
Re: OROP
by Iqbal Singh on Jul 06, 2009 02:21 PM
The ratio of PBOPR to Officers is easily undersatndale. Also the officers already enjoy options of petrol Pumps and resettlemnts post there retirements. Also wait for a few days, as the Bureaucrats willing to get their daughters married to Officers will automatically bring officers into the fold. By the way the PBORs still are deprived of Free Rations. Warmest Regards
Dear F.M. Please do something for the salaried class by way of standard deduction. In the absence of such deduction the salaried people cannot be placed with other trade and professionals who book and claim lot of expenditure as allowable.
Re: Standard Deduction
by bharat on Jul 06, 2009 01:51 PM
it is uaeless to say, budget is already out. they dont have any sympathy with poor.they are showing crocpdile tears when they need votes from poor masses
Abolition of Surcharge is a great step for individuals having taxable income of 10 lakhs or more.
Yes, there is no direct benefit for people earning about 2.5 lakhs p.a., but abolition of FBT will definitely prove a benefit for the class employed in private sector. There will be more HRA and other allowances which now will not be taxed at the hands of companies and hence will be in the form of HRA and other allowances instead of Basic.
Hence, individuals will be able to claim more deductions under section 80. After this deduction may be your taxable income will come down drastically, because deduction of 1 lakh limit under Sec 80C is different and HRA deduction is different.
You will see the benefit passing on to the individual urban class employees.
Tax is calculated on taxable income after all deductions and not on gross income. This difference we should understand. Now companies will include your salary portion under allowances instead of basic and hence there is more chance of getting deductions, consequently reducing your tax burden.
This Govt is anti middle class and salried person.The businessman get exemptions for all expenses,but a honest tax payer saleried man is not given expemtion for vehicle he uses to reach office and other expenses occured by him in performing his duties.
Time have changed and the same doesd not reflect in your budget. We had a lot of confidence in Congress which has not come up to the mark. Poor for the middle class. thumbs down
