Inputs Sought for Budget 2017
The following are inputs:
1.Increase the minimum exemption for Income Tax from 2.5 Lakhs p.a. to 10 Lakhs.
2. Provision of Medical insurance for Senior Citizens. If they opt for Medical Discount I.D. card, for 30% discount, this should be given to senior citizens above 65 years.
3.Exemption from Excise duties for production of Solar cells and Solar panels and all allied products tapping Solar Energy so that cost will be minimized.
4.For General public discount up to 30% cost of erection of domestic solar power panels, heaters etc and Govt. to give bank loan for 40% of the cost such items. This will encourage domestic errection and reduce the consumption of power. Similar schemes could be shown to industries also.
5.Scrap all charges in connection with supply of cheque books to customers, transaction charges, charges for issue of Debit cards and limitation in the withdrawal of cash, charges made at the PoS end ( in turn from the product buyers) in order to encourage card usage without inhibition.
6.Simplification of IT filing forms in respect of Senior Citizens and no filing of returns for Elders above 75 years of age.
7.At present there is no IT for Revenue from Land produces. Those who own even small piece of land show their income as if from got from the land ( income from land). Hence atleast small percentage of Tax (say 5%) need to be levied in future.
8.There need not be exemption for any religious trusts ( any religion) and religious bodies (example.temples/churches/ mosques etc ) with income above 10 lakhs rupees. This leads irregularities and requires submission of audited return to IT annually.
9.The Political parties (state or Center) should file return forthwith and their annual political funds above 1000/- must be paid in the form of electronic payment. They must pay at least 5% tax on the Fund they receive and accumulated in the bank.They must submit returns to Election commission annually.
10. To achieve price control on food produces, edible manufactured products, Essential Pharmaceutical products (medicines) tax exemption/excise duty reduction need to be given.
11.Subsidies for chemical fertilizers should be scraped and incentives could be given for natural fertilizers like cow dung, fodder etc utilization etc through their bank accounts.
12. Farmers can be provided with mechanical field equipment through Area Agricultural Department offices for tilling, croppig, etc to increase the production(on rental basis)
13.Animal welfare to be augmented by better breed Indian cows for improved milching, good breed goats for mutton, fowl breeding etc.
14.Farmers will be happy if they are provided better irrigation facilities by local water ways linking, deepening of ponds etc., construction of check dams, etc.
15.Incentives for production of SUGAR FREE Products by providing exemption from Excise duties for such products. The diabetic patients depend on these items only for the living.
16. To decrees the Fuel consumption, second car taxation could be levied for a any single individual. Further, those who utilize the public area like Roads etc should be made to pay additional tax for such cars. more
1.Increase the minimum exemption for Income Tax from 2.5 Lakhs p.a. to 10 Lakhs.
2. Provision of Medical insurance for Senior Citizens. If they opt for Medical Discount I.D. card, for 30% discount, this should be given to senior citizens above 65 years.
3.Exemption from Excise duties for production of Solar cells and Solar panels and all allied products tapping Solar Energy so that cost will be minimized.
4.For General public discount up to 30% cost of erection of domestic solar power panels, heaters etc and Govt. to give bank loan for 40% of the cost such items. This will encourage domestic errection and reduce the consumption of power. Similar schemes could be shown to industries also.
5.Scrap all charges in connection with supply of cheque books to customers, transaction charges, charges for issue of Debit cards and limitation in the withdrawal of cash, charges made at the PoS end ( in turn from the product buyers) in order to encourage card usage without inhibition.
6.Simplification of IT filing forms in respect of Senior Citizens and no filing of returns for Elders above 75 years of age.
7.At present there is no IT for Revenue from Land produces. Those who own even small piece of land show their income as if from got from the land ( income from land). Hence atleast small percentage of Tax (say 5%) need to be levied in future.
8.There need not be exemption for any religious trusts ( any religion) and religious bodies (example.temples/churches/ mosques etc ) with income above 10 lakhs rupees. This leads irregularities and requires submission of audited return to IT annually.
9.The Political parties (state or Center) should file return forthwith and their annual political funds above 1000/- must be paid in the form of electronic payment. They must pay at least 5% tax on the Fund they receive and accumulated in the bank.They must submit returns to Election commission annually.
10. To achieve price control on food produces, edible manufactured products, Essential Pharmaceutical products (medicines) tax exemption/excise duty reduction need to be given.
11.Subsidies for chemical fertilizers should be scraped and incentives could be given for natural fertilizers like cow dung, fodder etc utilization etc through their bank accounts.
12. Farmers can be provided with mechanical field equipment through Area Agricultural Department offices for tilling, croppig, etc to increase the production(on rental basis)
13.Animal welfare to be augmented by better breed Indian cows for improved milching, good breed goats for mutton, fowl breeding etc.
14.Farmers will be happy if they are provided better irrigation facilities by local water ways linking, deepening of ponds etc., construction of check dams, etc.
15.Incentives for production of SUGAR FREE Products by providing exemption from Excise duties for such products. The diabetic patients depend on these items only for the living.
16. To decrees the Fuel consumption, second car taxation could be levied for a any single individual. Further, those who utilize the public area like Roads etc should be made to pay additional tax for such cars. more
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Just abolish all taxes to that of only one TurnOverTax with compulsory TDS without any reservation to all category . No relaxations for all private bussiness shares funds etc.,. Every citizen should covered. The benefits are 1. TurnOverTax rates fixed between all accounts from 0005% to maximum 3% according to Savings and to bussiness. 2 no tax return required. 3 Those who do cash transaction must buy prepaid tax to cover up. 4 the black money will vanish over night 5 Govt will get its revenue every day without recovery revenue officials. 6 FDI is automatic since India will become tax heaven country. 7 the revenue will increase to thousand fold and Govt may attempt any mega project at ease. more
Jan 08
Wile asking for greater relief in txes, we must also keep in mind the need for a higher income/revenue for the government to meet the expenses in public works. With these in view, I suggest that 1. The minimum Income tax exemption limit for a) individuals below 60 years be raised from the present 2.5 lacs to Rs.3.00 lacs. b) for above 60 years (Senior Citizens) from 3.00 lacs to 3.5 Lacs, c) for 80 years and above (Super senior citizens) from 5.00 lacs to 5.50 lacs. [since most of the income of senior and super senior citizen come from income on savings, with the decrease in interest rates as expected it is not likely to increase beyond this limit in most cases. It is well known fact that a lot of income earned from NON-AGRICULTURAL activities is passed off as income from agriculture. With a view to plugging this loop hole and with a lot of out lay going towards development of village-infrastructure, it is but reasonable that that sector should also contribute its mite. I, therefore, suggest that income from agriculture beyond 5.00 lacs should also be brought in the tax bracket and taxed at 10% upto 10.00 lacs and at 20% above 10.00 lacs to 20.00 lacs and at 30.00% beyond 20.00 lacs. A lot of corporate businesses s acquire or sell of their concerns by transfer of shares. this would attract tax if the transaction was in cash. Such transactions should also be valued at the then prevalent market price and suitably taxed. The Railways have been suffering for decades from neglect of proper up-keep and also need a lot of improvement in the existing infrastructure and systems. The freight-rates are, think already so high that any further increase will only result in loss of revenue to competition. There is also not much lee way to make much increase in high cost trains or classes, as this will result in loss of traffic to other modes of travel e.g. air/road. I, therefore, suggest that the passenger fares for all classes be increased by 10% with a minimum of Re.1.00 to a maximum of Rs. 200.00 per ticket. With a lot of private hospitals coming in the country, medical care has now become completely commercialized and is already getting beyond the means of common citizens. MANY HOSPITALS HAVE BEEN CHARGING PATIENTS HEAVILY AND UNREASONABLY. With a view to curbing this, the government must grade all hospitals and fix standard coast for all procedures, and medical aids like stents etc. I SUGGEST THAT THE HEALTH MINISTER DOES GO THROUGH GEORGE BERNARD SHAW's PLAY "THE DOCTORS DILEMMA" AND HIS PREFACE TO THIS PLAY TO FULLY APPRECIATE THE IDEA BEHIND WHAT I AM SUGGESTING. In the field of electronics, computing etc, while our country has done quite well in software production, we are abysmally lacking in hardware production. SOFTWARE BECOMES USELESS IN THE ABSENCE OF HARDWARE. IT IS, THEREFORE, ESSENTIAL THAT AMPLE CARE IS GIVEN TO PROMOTION OF HARDWARE PRODUCTION IN THE COUNTRY. High incentives should be extended for such ventures which star production of hard ware on their own or in collaboration with foreign concern with technology transfer. Educations at primary, middle as well as higher levels as become too costly and beyond the means of a majority of citizens. The requirement of admitting at least 25% of poor students is mostly not met by private institutions. One of the reasons is that most of these institutions are run by trusts etc headed by politicians and have become a source of earning unaccounted money and black money. This must be curbed. ALL RECOGNISED EDUCATIONAL INSTITUTIONS MUST ADHERE TO A STANDARDISED STRUCTURE OF FEES. more
Jan 08
Present position has to be continued due to shortage of new currency in India and to encourage online banking etc. more
Jan 04
WATER WATER EVERY WHERE BUT NOT A DROP TO DRINK--This is the Indian Budget.. Though Crores of rupees are allocated to various schemes, the Govt.of India have no mind and heart to allocate any funds for the sake of Senior Citizens. The GOI have forgotten that these Elders are none other than Physically challenged persons, who are dependent on others on everyday their living. They are no better than WOMEN and of course in the ELDERS category, women are also included. The concessions given women, Physically Challenged persons (physically handicapped persons) are not extended to Senior Citizens (Elders). Even in the announcement made by our BELOVED PM he informed that the interest rate for Elders will be at 8% for a period of 10 years FIXED DEPOSITS. Is it not ridiculous to expect that all Senior citizens will remit all his savings in FD for 10 years and could live till the expiry of 10 years to receive the depreciated amount at that that time? Any amount of detailed study made by GOI sponsored NGOs and other independent NGOs and their findings and reports have been flown in to thin air since ther Senior Citizens have separate representation to ventilate their grievances. The Ministry of Social welfare are turning blind eye in respect of ELDERS who have rendered yeomen service to nation during their active life period. In this ELDERS category from EX PRESIDENT OF INDIA to poor village who crossed their active part of life will fall. Of course, top politicians and similarly placed persons will get financial and other perquisites even after they quite their service after political life or retirement and hence they have no chance to think of other Elders in this country. It is high time that Mr.Modi who is supposed to carry the flag for all suffering Indians must ponder on the PLIGHT OF ELDERS OF THIS COUNTRY AND GIVE ENOUGH RELIEF AS ALREADY POINTED OUT IN THE LOCAL COUNCIL POSTINGS. more
Jan 04
