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

    • 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 ...

    • My suggestions for the budget

      I suggest the following points for consideration while framing the budget. 1. Income tax limits should be based on a reference year and must be updated automatically every year based on ...

      By Govind Vijayaraghavan
    • Handing more control to government

      Many contributors in this circle ask for the government to interfere in every aspect of our life. Things like censoring OTT content, compelling people to wear masks, how to stop restaurants from in...

      By Govind Vijayaraghavan
    • Is RBI creating a new digital black money economy with their CBDC?

      RBI has created a pilot digital currency. It was recently clarified by RBI Governor that once withdrawn by an individual from an authorised bank (subject to the same limits as applicable for paper ...

      By Govind Vijayaraghavan
    • An Appeal to PM: Hang the Rapists

      The incidents of rape of minor girl children and women and gang rape and murder are being reported every day from various parts of the country. It appears that there is no fear of law. Rapists...

    • When there will be Uniform Status of Citizen

      Citizen are being asked about their caste and Religion in all most all the Goverment systems . Facilities and justice are different for different group of peoples . I don...

      By Mahen Patle
    • Divided Society

      Divided society can never be proved strong . Indian Society is being divided through caste based reservations . It is the time to minimize the caste based reservation , but instead of it caste ba...

      By Mahen Patle
    • Forcibly Junking Private Vehilces in the excuse of age in Delhi is inhuman

      Delhi Sarkaar has artificially banned 10 year old private diesel vehicles & 15 year old private petrol vehicles in the excuse of age. Whereas pollution producing vehicles have not been challaan...

      By Chitradeep Sengupta
    • Harassment by state PVD

      Recently experienced two issues which need attention of the authorities as per new PV rules....not talking about fines. 1. Excessive emission blacklist by PVD while the vehicle is moving...

      By Tapas Chatterjee
    • Attention Localcircles Management on Corona Vaccine after effects

      I am Aged 74. After 6 months of 2 doses Vaccination in July '21, I am suffering from Joint Pains, Muscle Pains, Body shivering , Shortness of breath, headache, Sleeplessness, forgettence, an...

      By Csn Sarma
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.)