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Sunday, Feb 25, 2007
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 Industry & Economy - Budget
Tax income or expenditure

I would like the Finance Minister to either tax income or expenditure. The service tax is another version of expenditure tax that is paid out of taxable net income received by people. Avoid multiple taxation. Abolish income tax and concentrate on indirect tax. Hope this would provide for a clear way to collect tax.

Laxminarayan Vyas, Hyderabad

More Stories on : Budget | Income Tax

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Stories in this Section
State Bank of Travancore hikes interest rates

I-T exemption limit may be raised to Rs 1.5 lakh
Raise basic I-T exemption limit
Differential tax slabs for corporates
Withdraw service tax on exports biz
Restore standard deduction
Give prime importance to agriculture sector
Need for fair deal on service tax
Service tax must be based on usage
Tax income or expenditure
Reduce corporate, personal tax rates
Allow depreciation sops for salaried
Independent panel to curb black money
Give more sops to investments
More for senior citizens
Allocate more for defence spending
Abolish special additional duty on all imports
Focus on dryland farming
Unearned income must be taxed more
ONGC-Cairn pipeline project: Engineers India to do feasibility study
ONGC appoints consultant for 3rd party audit of wells
SIAM suggests tax deduction for car loans
Plea to include exports to CIS nations for duty credit benefits
CPI opposes power PSUs divestment
Luxembourg sees key role for India in WTO talks
Godrej Agrovet to focus on rural marts
Milk powder export ban: Casein makers unaffected

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