Budget 2016.

1)1st January, 2016 a Notification regarding some steps to submit PAN> for Transactions, from preventing un-account money. Its only effect Middle Class income group People. What about Higher income Group. They kept in other way. Check the un-account money from Higher side> verify locker of Banks,Documents of Properties.
2. Please consider the Income-tax Rates. Please start from 3% to 5%. Then the Number of filing increase, now its 5% of Population.
3. Consider Rs.50000/- interest income as EXEMPTED. Levy from Rs.50001/- TDS. Remove the 15H & 15G. This will helpful for Middle income Group.
Please consider Hon. Min.Fin. Sri Arunjetlyji. more  

View all 12 comments Below 12 comments
Number of Income-tax payers increase by Reducing Income-Tax Rates. In next 3years the Receipts of Income-tax Doubled to Govt. Budget expenditure met with that increased Income. more  
My idea of Removing Form 15 G & 15 H is reduced Income-Tax Rates(from 3% onwards), one should file all type income and if eligible get Refund he can do it filing. Now the Refund get speeded by Dept. The First step of Govt issuing the Notification 1st January,2016(PAN for Transactions), good and the un-account should be regularised. more  
The following are suggested, 1.The Income tax limit has to be linked the WPI and allowed to increase or decrease according to inflation. 2. All exemptions other than income slabs may be removed and tax structure may be started from as low as 2% and go upto 40% for the super rich and companies. 3. Agricultural income is also to be taxed along with other types of income to increase the revenue to govt. 4.Service tax has also be rationalised at some percentage, without any exemptions, concessions etc. more  
You are right Mr. Ranbir. The money of senior citizen is hard earned and let him decide about it by filling form 15H. more  
1.savings section should continue. 2. Form 15H &15G to continue. 3.For Sr.ctzns may be Rs1L towards medicines expenses be considered besides the exemption limit. more  
Post a Comment

Related Posts

    • Why income details must be given to broker

      Always wondered, why does an investor have to fill in income details with the broker? I buy shares if I have money. I do not need to have an income. And PAN number is a must. So why do you add this...

      By Aditi Jain
    • Bad news for small savers

      There won't be any cut in interest rate of Small savings schemes . Yesterday's decision to lower the interest rate is REVERSED

      By Jayanti Natarajan
    • Bad news for small savers

      Rates on small savings schemes reduced by 50-90 basis points. PPF in April-June quarter to earn you only 6.4% interest against 7.1% earlier. Senior Citizens Savings Scheme to earn on 6.5% now compa...

      By Vikram Gupta
    • Secured earning for Senior Citizens

      I raised this point on earlier occasions also. No relief seen in any budget. I made a suggestion as follows: There are some schemes exclusively for the benefit of Senior Citizens like Se...

      By SN Sitaram
    • Rounding off the amount in Bills

      Request guidance as to which is the appropriate circle & authority to whom i can complain regarding the below mentioned issue: Lately with many of my relatives and friends staying in Gurga...

      By Manas Hazarika
    • Great news for seniors

      Senior Citizens (above 75 years) who get pension and interest income only are exempted from filing returns

      By Azam Yusuf
    • The Govt salutes honest and compliant tax payers

      Recently our CBDT isued a press release saying it cannot punish compliant and honest tax payer by extending various due dates for the assessee who are dishonest, lazy and non compliant and our secu...

    • Can budget help with illiquid stocks

      Most of senior citizens are stuck with stocks of illiquid and delisted companies. To help them a window may be created to extinguish such stocks and set aside such investments against long term ca...

      By Aditi Jain
    • Waive off Tax for the Covid-19 period!

      Covid-19 has affected almost all citizens and residents of India. People are jobless and businesses are either shut down or in a loss. People are unable pay their EMI's. Loan moratorium relief was ...

      By Suhail Sayed
    • Now report these in income tax

      Additional transactions to be included under the reporting standards of income tax include: Payment of rent above Rs 40,000. Payment of educational fee/donations above Rs 1 lakh per...

      By Aditi Jain
    • Savings Must ?

      Senior people at loss as Bank FDs intrest less. Now any type of Mutual Funds ,Liquid Funds prone to Stamp Duty. Gains for LTCG. Dividends TDS! SCSS etc Long duration with reduced yields! Is Saving...

Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)