Considering the galloping inflation, Personal Income-Tax exemption limit should be raised atleast to Rs. Two Lakhs, with proportionate increase for Senior Citizens. Tax slabs and rates can remain the same. Higher exemption limit granted to all women assessees as a matter of rule by successive governments is discriminatory and they(women assessees) should be brought on par with other assessees. The concession can however be extended to specific categories of women like widows. Salaried class having an annual income upto Rs. Five Lakhs should be exempted from filing IT Returns, provided they have no income from other sources, as Income-Tax is recovered from their salaries by their employers and paid to the Government on monthly basis. The manpower engaged in scrutinising these Returns can be deployed in detecting tax evasion.K. Nagarajan, Retd. Chief Accounts Officer, M.T.N.L., Mumbai.
C-F01, VANAJ, VASUDHARA APARTMENTS,
T.P.K. Road,
ANDALPURAM,
MADURAI - 625003.
No comments:
Post a Comment