Make filing of Annual Balance Sheet compulsory for each individual each year. If any asset is found outside the balance sheet, it MUST be immediately confiscated by income tax department.
print new notes of Rs.500 and Rs. 1000 and after specific dates within 30 days old notes to be exchanged. This will help to catch the people who are holding black money. To reduce the property prices, Husband and wife should have only one flat in the city, in case of extra flats income from HP deemed income to be considered.
The PSU's, and oil PSU's enjoy a hell of a lot benefits that is out of the tax payers money. all the stuff that PSU's pay benefits, passess out of their earnings is not exactly correct, there is budgetary support hidden. There should be a cap on travel by car for State,Central,PSU officers upwards and babus.
LED should be introduced in a big way. All vehicles that are not two wheelers should be switched to gas. Trucks, buses should be the first target. No truck that is more than 7 years old should ply on the roads. Incentives for new hybrid trucks. All autos should be on gas.
Exemption slab for IT 5 lakhs.and for women 7 lakhs. It rate 2% up to 10 lakhs.12% over and above that. 80C removed. All allowances treated as taxable.No more HRA calculations. Interest on Housing Loan 2 lakhs -deductible from income. Medical Insurance 50,000- deductible from income. All pre-existing diseases covered under mediclaim. Cashless policies. Reimbursement on Medical expenses- tax free. Principal on Housing loan- fully deductible. Except for LIC, EPF,PPF, Post office deposits all else under EET. Gratuity limit 10 lakhs. EL Encashment- no Tax even while in service. Pensioners out of tax slab. Senior Citizens whose income is through interest,dividend etc which is not from superannuation source should be taxed at 1%. STCG and LTCG removed- flat 5% tax. Typically if a person earns 10 lakhs he will pay only 4,000 as tax. He spends on the health of his family, save more, consume better. A women may pay marginally more or will have tax free income.
Let the salaried middle class breathe and become the next consumer boom.
PAN card is a must. Privasise all PSU's. Sell AI and IA to the highest bidder. The name may remain.
This is Sridhar.Please i am proposing a suggestion which is every one should have PAN CARD and in towns and villages there many transactions in shops around 20,000-30,000 per day.so he will earn nearly income 30,000-40,000 per month.so govt should implement strict rules to pay the income tax to such shop owners.....
This is Sridhar.Please i am proposing a suggestion which is every one should have PAN CARD and in towns and villages there many transactions in shops around 20,000-30,000 per day.so he will earn nearly income 30,000-40,000 per month.so govt should implement strict rules to pay the income tax to such shop owners.....
Re: i will dropped uttar pradesh in the sea
by Virender Samariya on Feb 23, 2010 06:10 PM Permalink
o helloz, up is the 2nd most jobs provider in different sectors in whole India.......
privatised all the depts except armed forces and intelligence. privatise & encourage to compete with efficient and quality service for example ( BSNL, AIRTEL, IDEA, VODAFONE and airlines) likewise even in power sector, road transport, health, public works, irrigtion etc. Further remove the frills or the departmental concessions to employees such as for road transport / railways / electricity board employees no free passes or no free electricity. then see the revenue generates automatically.
