POWER PACKED BULLETS FOR THE FINANCE MINISTERDecrease the age limit for senior citizens to 60 years to be at par with concessions given in other sectors such as Railways,Airline,Banks etc.
Increase the Basis exemption limit by Rs.40,000 to make more money available in the hands of assessees for meeting their basic needs.
Levy 1% “Health care cess” for all assessees, to promote health care projects.
Increase the sales, turnover or gross receipts limit to Rs.6,000,000 in case of Business Income and to Rs.1,500,000 in case of Profession income for requirement of compulsory Audit which will help many small businessmen and professionals.
Increase the limit of Interest (bank, co-operative society & post office) to Rs.20,000 for deduction of tax at source in the interest of common people.
Increase the Wealth Tax rate to 3% to compensate the hike in basic exemption limit.
Decrease the rates of duty on household appliances, cement, steel, mobile, electrical equipments, sugar, tea, coffee, agriculture equipments, computers, televisions, life saving drugs, fertilizers in the interest of poor and common people (aam aadmis)
Decrease the Dividend Distribution Tax to 12% and remove little burden from corporate sector.
Shivanand Pandit
pandit_shivanand@rediffmail.com
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