I am a pensioner who had put 39 years of service with a Nationalised Bank. I have been an IT payer since long and found almost all budgets anti labour. While almost 95 % of the working class find it difficult to meet the both ends, paying huge tax is a curse. I think the Govt. can do something towards this. Here is my suggetion.
A person who is paying tax say Rs. 10000 in a year is actually not enjoying the money. Other taxes like Proff. tax etc.. are allowed to be deducted from the income. Likewise, the amount of IT he paid last year to be allowed to be deducted at least a portion of that for a start. Since std.deduction had been done away with, this request may be considered by the Finance minister while he is with the Budget preparation. This will go a long way to the suffering working class of this country. taking ito consideration that they are paying cent per cent tax always.
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Over the years, I have seen many budgets and evaluated its significance from the angle of an inadequately paid employee who finds it difficult to meet both ends. All these years I have seen budgets as anti employee,and a curse to a lot who are paying the full tax regularly. My humble suggestion to the Finance Minister is that, since the Std. Deduction had been done away with, a portion of the IT paid last year by the employee may be allowed to be deducted from the next years income At present" Proff. Tax" paid is allowed to be deducted. The tax paid by the person is not been used by him and it is not just if that amount is to be taxed. My request is that at least a portion of last years tax paid may be allowed to deduct from this years income .
Thomas John.P
Padavupurackal House
Nellikkunnu - Kura Rd,
Trichur 680005
Kerala 04872427949, mob.9447713594
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