#Budget2017 - Suggestions
1. Tax exemption limit INR 10 Lakh, with no deductions under Chapter VI.
2. Maximum Income tax rate 20% on income above INR 5 Crore
3. New 10% Senior Citizens (Taxable) Bonds 2017 with a tenure of 6 yeras.
4. New 12% Divyangjan (Taxable) Bonds 2017 with a tenure of 10 years for persons with disabilities.
5. GST Rate for Services 12%.
6. No changes in Capital Gains tax
7. No change in Security Transaction Tax rate
8. More allocation for Manufacturing sector
9. Corporate Tax rate 25%
10. GST should cover all goods. Zero rate for essential items to be exempted. more
2. Maximum Income tax rate 20% on income above INR 5 Crore
3. New 10% Senior Citizens (Taxable) Bonds 2017 with a tenure of 6 yeras.
4. New 12% Divyangjan (Taxable) Bonds 2017 with a tenure of 10 years for persons with disabilities.
5. GST Rate for Services 12%.
6. No changes in Capital Gains tax
7. No change in Security Transaction Tax rate
8. More allocation for Manufacturing sector
9. Corporate Tax rate 25%
10. GST should cover all goods. Zero rate for essential items to be exempted. more
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I agree with Mohanji, in principle. As a matter of fact a flat 1% tax on all bank incoming funds and removal of any tax at all in any form might both yield greater revenue and also save on apparatus for collection of tax plus make distribution of revenue amongst Central, state and local body seamless and being without use of discretion at fixed percentage, shall be free of moral or fiduciary corruption. more
Jan 16
Hello Mr Mohit Good ideas but we must not raise expectations too muc, tax exemption must move in stages from Rs 5 lacs now and going up later. Corporate tax anyways is moving towards 25% Even MP and MLA must be brought into tax network and made to file IT returns and all MP/ MLA and Public office must have PAN card as mandatory requirement too. Cash withdrawal tax must be started surely, to add digital transactions, if not turnover tax. All major exemptions also must be removed with only specific incentive based exemptions remaining, to make laws simple for all, like PF/Pension fund etc We all must make some tax contribution, while also make government accountable too, which is crux of any development of the nation Thanks more
Jan 16
THE GOVERNMENT MUST INTRODUCED TRANSACTION TAX TO THE BANK INWARDS AT 0.01 % AND OBSERVE THE TOTAL IMPACT AND MEAN TIME THE COLLECT AMOUNT CAN BE ADJUSTED IN FINAL RETURN FOR THE YEAR 2017 -2018 IF IT WORKS AND SHOWS SOME POSITIVE SIGNALS THEN WHOLE TAX STRUCTURE CAN BE RE-STRUCTURED more
Jan 16
THE INCOME TAX PAID BY INDIVIDUAL MUST TREATED AS PERSONAL DEPOSIT TO GOVERNMENT AND THE INTEREST INCOME MUST BE GIVEN BACK TO SENIOR CITIZENS AND PERSONS IN THE RED ZONE must act more
Jan 16
It is high time that we move towards Bank Transaction Tax and GST at the most. No subsidies or any other exemptions. Expenses related to Essential goods to be exempt from GST and BTT. This will simplify the filing of tax returns and put huge amount of human resources at the disposal of the government to monitor implementation at grass roots levels. It can effectively address corruption too. more
Jan 16
