Finance Minister Pranab Mukherjee will present the Union Budget on February 28. The common man is feeling the heat as inflation and interest rates move up.
Like it on Facebook, Tweet it or share this topic on other bookmarking websites.
Tax free Income tax slab be at Rs. 3 lakh for all including senior citizens and women. Further, the tax slabs be linked to inflation index so that these automatically move with inflation. I will actually like to remove the income tax and replace this with tax on personal expenditure. This will ensure that the income used in any investment- business, machinery, buildings etc and not used personally is not taxed. The government should reduce staff by privatizing most of functions and reduce administrative expenses of the state machinery.
Tax on petrol and other essential commodities should be reduced. The luxuries and harmful items, expensive travel, hoteling may be taxed heavily. The object should be to tax the rich and spend on the poor. The aim should be to spare investment and tax luxury.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
The Finance Minister has an unenviable task this time in the face of spiralling inflation and its poor management by th government so far.To keep the momentum of growth in the industrial sector and boosting up production in the farm sector should be at the top of his agenda.
