From: S.SHYAMALA shyamala.coonoor@gmail.comTo: BudgetTwentyTen@gmail.com
Date: Tue, Feb 9, 2010 at 12:47 PM
Subject: BUDGET WISH LIST
RAISE IT CEILING AND SAVINGS LIMIT AND SCRAP TDS
With the Prime Minister himself expressing concern at the whopping increase in food prices and had conducted a meeting of Chief Ministers to devise strategies to control the spiralling prices of essential commodities, the plight of middle-income households to meet both the ends needs hardly be over-stressed. There is no money left for saving to meet future family commitments and middle-class housewives are living in a fear of uncertain future. The house-door expense on vegetables, fruits and grocery has trebled in the last one year. With everyone claiming an increase citing hike in their living cost, housewives’ expense on rent, water, electricity, education, uniform, shoes, medical, phone and cable has skyrocketed, further hiking their living cost. In effect, housewives’ overall expense to run the family has risen five times in the last three years. In many homes, income has reduced due to job or salary cut arising from recessionary impact. So, the Finance Minister should (a) raise the IT exemption level to Rs 3 lakh, (b) double allowable deduction under Section 80 C to Rs 2 lakh and (c) scrap TDS on bank interest or raise the annual ceiling to Rs one lakh. Middle-class households need incentive for saving.
S. Shyamala,
308, Reilly Compound,
Coonoor-643 101.
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