P.P.Mohanan, Kochi

NO TAX ON EMPLOYEES' PERKS The recently introduced tax on perks of employees should be abolished. The Government may consider to restore the Fringe Benefit Tax. The FBT was abolished in the last Union Budget (2009-2010) and the corporate bodies were very happy for that matter. But, subsequently the burden was passed on to the salaries class by charging tax on perks ofthe employees. It is not fair to tax the employees for giving relief to the employers. The last year's proposal to disinvest Public Sector Undertakings should be reconsidered.In the backdrop of the global recession, even Western countries are putting more government control over their financial institutions. It will be suicidal on our part to hand over the proft-making Public Sector companies, to private sector. The salaried middle class expects a realistic raise in the Income-Tax exemption limit. The Government may consider the abolition of Service Tax on insurance premium. Further, the Finance Minister may come forward with steps to strengthen the Government owned four general insurance companies.

P.P.MOHANAN
Kerala State General Secretary
General Insurance Officers All India Association
Kochi
ppmnambiar@hotmail.com