The Hindu Business Line : Budget rollbacks

The article "Rollback is not a dirty word" (Business Line, March 14) has rightly argued that tracing withdrawals of small amounts like Rs 10,000 is an exercise in futility and hence there is nothing wrong with rolling back the cash transaction tax.

The Finance Minister should consider exempting cash withdrawals from this tax or raise the limit to Rs 50,000.

The Finance Minister should furnish the public with statistics of withdrawals from savings accounts if he proposes to retain the tax.

The Finance Minister should consider restoring the standard deduction to some extent, as otherwise salary income will be considered on par with business income.

While the latter has deductions like depreciation and interest payments, no such facility is available to salary income.

Or else, the Finance Minister should consider giving depreciation benefits to purchase of household and other assets, and deduct interest payments on personal and vehicle loans.

K. K. Krishnan

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