#Budget2017 - Suggestions
2. Maximum Income tax rate 20% on income above INR 5 Crore
3. New 10% Senior Citizens (Taxable) Bonds 2017 with a tenure of 6 yeras.
4. New 12% Divyangjan (Taxable) Bonds 2017 with a tenure of 10 years for persons with disabilities.
5. GST Rate for Services 12%.
6. No changes in Capital Gains tax
7. No change in Security Transaction Tax rate
8. More allocation for Manufacturing sector
9. Corporate Tax rate 25%
10. GST should cover all goods. Zero rate for essential items to be exempted. more
Good ideas but we must not raise expectations too muc, tax exemption must move in stages from Rs 5 lacs now and going up later.
Corporate tax anyways is moving towards 25%
Even MP and MLA must be brought into tax network and made to file IT returns and all MP/ MLA and Public office must have PAN card as mandatory requirement too.
Cash withdrawal tax must be started surely, to add digital transactions, if not turnover tax.
All major exemptions also must be removed with only specific incentive based exemptions remaining, to make laws simple for all, like PF/Pension fund etc
We all must make some tax contribution, while also make government accountable too, which is crux of any development of the nation