Inputs for Budget 2017
My views as under
Income groups below 6 lacs p.a be classified as lower middle class / Poor and khan dhan accounts be opened for them
No tax below 6 lacs (includes 2 lacs investment)
Increase tax on cigarettes and liquor and other unbanned intoxicants
Increase tax on sedans and other bigger cars and vehicles
Good move by the gov offering tax incentives to msme entities for accepting digital transactions
Similarly tax incentives to be introduced for msme entities who make payments digitally
Msme entities are the future for the country / states growth and revenue
Hence payment due against any order/project shall be paid within 30 days from order execution or delayed payment shall attract 7% interest per day basis
Msme shall have the privilege for debiting expenses from the total annual income incurred for the company and proprietors/partners/directors
Expenses without bills below Rs 5000 per month be accepted for debiting from total income to arrive at profit before tax
Power tariff should be lowered for msme as well as domestic use based on average monthly usages
Budget allocate to rural areas for electrification
Make filing returns mandatory even for nil returns
New startups to be offered working capital loans at nominal rates and promote entrepreneurship by providing training to prospective citizens more
Income groups below 6 lacs p.a be classified as lower middle class / Poor and khan dhan accounts be opened for them
No tax below 6 lacs (includes 2 lacs investment)
Increase tax on cigarettes and liquor and other unbanned intoxicants
Increase tax on sedans and other bigger cars and vehicles
Good move by the gov offering tax incentives to msme entities for accepting digital transactions
Similarly tax incentives to be introduced for msme entities who make payments digitally
Msme entities are the future for the country / states growth and revenue
Hence payment due against any order/project shall be paid within 30 days from order execution or delayed payment shall attract 7% interest per day basis
Msme shall have the privilege for debiting expenses from the total annual income incurred for the company and proprietors/partners/directors
Expenses without bills below Rs 5000 per month be accepted for debiting from total income to arrive at profit before tax
Power tariff should be lowered for msme as well as domestic use based on average monthly usages
Budget allocate to rural areas for electrification
Make filing returns mandatory even for nil returns
New startups to be offered working capital loans at nominal rates and promote entrepreneurship by providing training to prospective citizens more
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I endorse Mr. Ananda Pai's comments. Pensioners are compensated by increase in pension when prices rise. But for those who retire from private companies, it is a huge burden, particularly septagenarians who are not covered by any health insurer. more
Dec 31
Mr Rajesh Iyer have raised and tried to touch significant points. However, I see that any campaign, project, mission, activity carried out by Govt usually fails because of Dishonesty starting from Govt's own employee to vendors and Common Public. Can some fund be allocated and design some activity that the most corrupt department like Municipal departments and other designated departments can be arranged and slowly and gradually we can have majority of people in India with honest mindset. more
Dec 30
See that taxing areas are reduced and compliance is improved. Limits for Middle class to be increased who is the only honest tax compliant in the nation. more
Dec 27
All senior citizens who have retired from private sector and donot have pension benefits shall be given social security benefits like medical facilities linked to income taxes paid by them during their service as their income reduces with reducing interest rates and cosumption expences increase with inflation more
Dec 27
increase deduction for Medical and education expense for all type of tax payers and increase higher health insurance premium deduction from income more
Dec 26
