Contribution for Union Budget 2023-2024

I have submitted following suggestions:
• Unconditional Exemption from GST to Members of Cooperative Housing Societies on their contribution towards common expenses from their Tax paid income. This is doble taxation.
• Restore Senior Citizen Concession for Train Travel
• Exemption limit for Income Tax for individuals should be Ten Lakh Rupees without any deduction.
• Maximum Income Tax rate for Individuals should be 20%.
• Launch a “Divyangjan Welfare Deposit Scheme”. The interest rate should be 10% payable quarterly and maximum deposit amount should be Ten Lakh Rupees. Tenure should be 5 years with facility of extension. Interest rate to be increased after 10 years depending on inflation.
• Senior Citizens Deposit Scheme 2004 should be renamed as ‘Senior Citizen Welfare Deposit Scheme 2023’ and interest rate should be restored to 9.3% on all existing deposits. Interest rate should not be reduced but increased to take care of inflation.
• Work out new GST rates for all goods & services without Input Tax Credit. This will stop frauds. Ease to do business will improve as only one return needs to be filed. Suggested GST rates:
I) 0% on exempted goods and services
II) 5% on all goods and services
III) 10% on Diesel and Petrol
IV) 20% on luxury goods and services
• Allow import of gold with reasonable custom duty.
• Exempt from GST Solar Panels manufactured in India

I request Local Circles to invite suggestions from members and submit to concerned authority. more  

View all 12 comments Below 12 comments
These are very nice suggestions. 2023-24 Budget is Crucial for 5 State Elections and 2024 Central Elections. Presently Middle Class and Non Pensioner Senior Citizens are being CRUSHED, because of Very High INFLATION and Reduced Interest Rates for Senior Citizens. more  
Excellent Observation Need of the Hour requirement , Adding to that Spending on our Defence , Digital currency and Governing , reachable to Responsible persons reasonably , Transformation in Railways all are needed attensions . Reform Election Process such as reward points to open debate in every constituency under EC select only TOP three for qualify to contest and Elect one of three . more  
You have mentioned about double taxation. But this happens everywhere. For example, a business earns profits and is taxed on its income. It wants to distribute the income to its investors but has to pay a dividend distribution tax on an income which has already been taxed. Those people who receive the dividend income also need to pay tax on that (at least partly). After all these taxes, when one spends that money, you need to pay GST. Therefore it is not just double, but taxation happens multiple times. more  
Excellent suggestions, Sri. MOHIT PANDE; clear, concise, and crisp. One question I have, though, is how to fill the loss of revenue to the government. Should it reduce services? Should it reduce the benefits for Central government public employees? Should it increase taxes on the wealthy? Should it increase Incone Tax rates for businesses? Are there other ways to increase the revenues? Per an article from The Times of India: "The government of India spends a major share, nearly 50%, of its budget on interest, defence, subsidies, health and education. The remaining is spent on funds for various ministries and states, paying pensions and salaries to its employees, government schemes, the welfare of women, children marginalised communities and development of agriculture and rural areas. The government also spends a large sum of money on capital expenditure. Nearly 16% of the total expenditure is devoted to the creation of capital." I read comments like bribery and corruption. I am not sure if those are relevant to this discussion, unless the bribe and corruption are taken out of Tax revenues. more  
Reduction in cost of governance will create room for reduction in tax rates. People who are drawing pension in lacs including civilians are buying liquor and other items from army canteens. Is it not misuse of tax payers money? Why such canteens be in major cities ? more  
There are too many slips between cup and a lip. I wanted ration. They say you are not a white card holder. Who are these white men, let me know. more  
Post a Comment

Related Posts

    • Senior Citizens Are Ignored by PM

      Headline in Economic Times 19th February 2024 “Niti Ayog Calls for Tax, Legal Reforms for Elderly”. What is surprising is that PM is Chairman of Niti Ayog but is probably not infor...

      By MOHIT PANDE
      /
    • Nari Shakti Vandan Bill

      This bill was passed by Loksabha and Rajyasabha recently. Many political parties are not happy as the implementing process may take around two years. What surprises me is that, why these poli...

      By MOHIT PANDE
      /
    • Need to Pass Women Quota Bill

      Women Quota Bill: The Long awaited women Quota Bill will be Tabled on September 20TH 2023. We women are no less, but we are still are very less in number in every Profession i...

      By DEBOLINA MUKHERJEE
      /
    • How Middle Class Has Suffered in Last 9 Years.

      Even though PM has been advocating SABKA SATH SABKA VIKAS SABKA VISHWAS, the reality is something else which he may not be even aware of. The Bureaucrats who are running the government have impleme...

      By MOHIT PANDE
      /
    • ORGAN Donation Rules

      As per news Government is considering changing Organ Donation Rules. I would like Govt. to consider the following suggestion: When a person meets with an accident and subsequently dies i...

      By MOHIT PANDE
      /
    • Woes of Senior Citizens

      Kill Senior Citizens 🙏🙏🙏🙏🙏🙏 Govt should kill all sr. citizens after the age of 65 because Govt is not ready to pay attention to these nation builders.This issue was raised in Parliament by Ho...

      By MOHIT PANDE
      /
    • Karnataka Election Result

      PM held roadshows and rallies in Karnataka requesting voters to vote for BJP. Unfortunately BJP lost. In my humble opinion the reasons for BJP losing are listed below: 1. Perhaps PM is not awa...

      By MOHIT PANDE
      /
    • Karnataka lessons

      1. After reading in the news that several young voters of Karnataka tried to sell their votes to the highest bidder, I think we should have a serious look at our model of democracy. When people can...

      By Govind Vijayaraghavan
      /
    • Make India a secular state and save it from vote-bank seculars offering appeasements

      Some suggestions to make India truly secular and save it from those following minority appeasement strategies. 1. Civil, criminal and personal law should be common for all the citizens.

      By Govind Vijayaraghavan
      /
    • Should schools be run asa business?- A look outside India

      My granddaughter is an 8th grader in US and I have seen their school system at work from close quarters. By default, education is free in school level. Most children including the children of high-...

      By Govind Vijayaraghavan
      /
    • Why Rapist & Murderers are not Hanged

      Headline in Times Of India today: ‘School bus driver sent to jail till death for rape’ The moot point is what purpose will be served by keeping a rapist in jail till death at ...

      By MOHIT PANDE
      /
Share
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.)