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Budget 2011
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Budget 2011, Tax, Inflation
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About "Budget 2011" topic:
Views & opinions regarding the Budget. Should tax limit be increased? Should there be a special package for infrastructure development? Should interest rates be capped? What measures can be taken to curb inflation? List out the best measures Indian govt can take to beat recession, inflation & corruption.
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Below 2.5 lac Tax free, 2.5-3.5 lac @ 7% & 3.5-4.5 lac @ 15% above 4.5 lac @ 20%
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Introduce a flat, no questions asked slap basis...
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Jaygopal Raghavan
| Added idea
"Introduce a flat, no questions asked slap basis..."
| 1 year ago
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Like people upto 2 lakhs should be exempted from paying IT. Have a flat 5% of tax on incomes between 2 - 10 lakhs, 10% between 10 - 20 lakhs, 15% between 20-30 lakhs and 30% above 30 lakhs. No questions asked ! It should be computed on your total...
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Akash
| Added idea
"Below 2.5 lac Tax free, 2.5-3.5 lac @ 7% & 3.5-4.5 lac @ 15% above 4.5 lac @ 20%"
| 1 year ago
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Rs. 18,000-20,000 per month is the basic salary required to support any family. And already profession tax is deducted by states on the salary. Add to this the compulsory ESIC deduction on a monthly salary of upto Rs. 15,000. The current income...
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Ideate: "What should be the ideal income tax slabs?" deleted from your view.
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Hi Friends, These are some of the suggestions to benefit the foreign trade in Budget 2011. This article has been posted in http://www.taxindiaonline.com/ Regards, AKash Budget Suggestion and Expectation 1.Stimulas Package given in 2008 should be continued till the time the Global and domestic trade is fully recovered and withdrawal of the same should be in slow and phased manner 2.Removal of SAD on Raw Materials Net revenew to the Govt from SAD is NIL as the manufacturer are allowed to take CENVAT credit and Traders qualify for getting refund on subsiquent sale. 3.Income Tax Benefit to EOU units The same should be extended for another one year or till implimentation of Direct Tax code...
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KARUNAKAR SHUKLKA
| Commented
| 1 year ago
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Hi my dear friend, i tjink that the union budget is good for the trade polcy and tax provision also. MAT has been reduced it is good.
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Rathin Deb
| Commented
| 1 year ago
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Akash very well thought of proposals but I am of the opinion only one of them will be looked in to the budget.
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Insight: "Suggestions for 2011 Budget" deleted from your view.
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The following is a reproduction of from an article I wrote in 2004. 1. Harnessing the vast human resource in the country shall be the main objective. Most of the unrest and disharmony happening every where, may it be of social, political, various disruptions caused by actions and counter actions of different ethnic groups and communities turning into religious extremism, are due to the shift in the focus of life among the mass especially the village youth, and political are due to desperation fermenting of the prevailing situation that deprive them options and opportunities to grow up and lead a normal life. To alleviate it, the primary focus shall be on the uplift of the 750 odd million rural population, by providing them basic amenities such as a home to live, clean water, cheap electricity and fuel, primary healthcare, free basic education, effective public distribution system, good roads and other infrastructure, and a minimum assured income from agricultural or trade...
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Fiscal deficit * Fiscal deficit seen at 5.9 percent of GDP in 2011-12 * Fiscal deficit seen at 5.1 percent of GDP in 2012-13 Revenue and Taxes * Personal income tax exemption limit raised to Rs 200,000. Those in the Rs 2 lakh-Rs 5 lakh bracket will now be under the 10% slab. Those in the Rs 5 lakh-Rs 10 lakh bracket will come under the 20% slab * Service tax rates raised to 12 per cent from 10 per cent; School education, though, will be exempt from service tax. * Seventeen services exempt from tax net * Rs 10000-crore tax fee bonds for power sector * The Securities Transaction Tax (STT), imposed while buying and selling shares, is brought down by 20%. selling shares, is brought down by 20%. * Indian film industry exempted from service tax on copyright * Interest earned from bank deposits to stay tax free up to Rs 10,000 * No advance tax requirement for senior citizens * No change in corporate tax rates * Govt to move towards Direct Tax, Income Tax exemption limit raised to Rs 2...
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One more vuxury car is here. Price : styarting from 14.12lakhs Available in 3 variants . The all New Jetta is equipped with 2.0Litre, 4 cylinder CRDi engine with a maximum power output of 140PS @ 4200rpm and a maximum torque of 320 Nm @1750-2500 rpm. Mated to a 6 speed DSG gearbox and a Manual version, the new Jetta will have smoother gearshift and better responsiveness as compared to the older model. For ensuring optimum safety of its drivers and their co-passengers, the new Jetta will feature Electronic Stability Programme (ESP) and 8 Airbags to minimize injury in the event of an accident or collision. A 3-point belt for the center rear seat is also a welcome feature in this new version Luxury features include : Leather seat upholstery, a leather package for the steering wheel, handbrake and gear lever etc. Day time running lights, Cruise control, Hill Start Assist, an electrically adjustable driver seats, rear AC vents, a touchscreen entertainment system with an integrated CD...
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HRA stands for House Rent Allowance, it is an allowance provided by an employer to an employee. The main intention of this is to meet the cost of renting a home. Everybody whose salary package includes HRA is potentially eligible to get some deduction in Income Tax. Most, of the government and private employees have HRA as part of their salary package. In order to get income tax deduction for HRA, you must be paying rent for your accommodation; merely receiving HRA won’t help you to get tax benefit. Are you eligible for deduction under HRA…..??? We have designed and prepared this article to make you understand how you can claim tax deduction for HRA and what is the maximum tax exemption limit allowed for that. You can get tax deductions on HRA only if you are paying a rent of more than 10% of your salary. In majority cases, the rent, especially in cities is well above salary. For the purpose of discussion on HRA, salary means your Basic + Dearness Allowance (DA). Most of us think...
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Why ca n’t we contain Inflation which other developed nations find it easier to do? Inflation is the general rise in price levels. It is matter of previlages and authority that is mismatched that lead to loss in value of the currency which had been our problem for long where our currency now is so undervalued and is loosing it as a pattern for long time. It all emerges, let us forget about the standard routes of raising rates or restricting money supply or even creating autostabilizers there is a fundamental reason why we have inflation far beyond what may be required by our growth and employment. Suppose if one get an electric connection, one need to also buy an inverter to get sustained power. If one need to buy a car one need to also spend on extra demand of services every half year. If one need to go to an office to get anything now(not now I presume) one need to spend extra income to get it to functional levels. So on and so forth goes the extra income required to meet the...
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