Business Daily from THE HINDU group of publications Saturday, Feb 17, 2007 ePaper |
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Industry & Economy
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Budget Remove growth blocks
The Budget should be growth oriented, and it should improve investment climate both within and from outside the country, encourage savings, should control unproductive Government expenditure, and remove unnecessary hurdles in the growth of industry and employees as well. It should make efforts to make the working of Government more transparent, reduce controls and licences, and take steps to make the economy of the country healthier. Nitin Kumar Gupta,
Software analyst, TCS, Kolkata.
No tax return for salaried Abolish all exemptions, deductions (80 c 80cc) and slab rates, as it does away with the need to file individual returns. Tax salary (basic and DA only) at a uniform rate of 3-5 per cent for all salary/wages earners at source as and when disbursement is made. This ensures equitable contribution by all on the simple concept that every citizen earning income should contribute to the Government's kitty proportionate to his level of income. No tax return to be filed by individuals not having any other income other than salaries irrespective of income levels. The TDS certificate (Form 16) should be treated as return of income. This ensures that Income-Tax Department officials can be used to scrutinise business and corporate tax payers. L. Rangarajan,
Chief Manager (Inspection & Audit),
Bank of Baroda,
Head Office, Baroda.
Relief to senior citizens Senior citizens incur a lot of expenditure on health-related problems. Only a few of them are fortunate enough to get their expenses reimbursed by the organisation from which they have retired. Rest, constituting a majority, have to find their own sources. The forthcoming Budget should consider giving relief to the senior citizens by either deducting the amount spent on health-related problems from the taxable income or increasing the total tax-free income to Rs 2,50,000 per financial year. Khurshed Akhtar
Retired Professor,
Department of Geology,
Aligarh Muslim University,
Aligarh, UP
(Send in your budget wish list (in about 200 words) with a brief profile of yourself and a digital photograph, which may get published, to wishlist2007@thehindu.co.in)
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