IDEAS FOR THE UNION BUDGET FOR THE YEAR 2012-2013:
UNION BUDGET must be with a good aim,Trnsparant and strong intention to develop all the community and all the regions of the country and protect the country.
Every one have only 24 hours a day. Out of 24 hours every one is working about 8 to 10 hrs a day. But only 10% of people are becoming too rich and 90% of people are becoming too poor to middle class. Only few regions are being developed. why? where are the loop holes? The young generation should understand these imbalances in the country and must try for stop the corruption & Black money and selfish ness and rectify the loop holes in the laws and give more powers to the Election commission.
So,
1.The aim of the budget should controll the corruption & Black money.
2.It should make the poor (labor, cast professioners,employees and must remove the beggars)to become rich.
3.It should develop the Industries and Infrastructure.
4.It should remove the poverty.
5.It should reduce the fear in the people and create interest to live.
6.It should increase the employment opportunities.
7.It should improve the moral responsibilties & Accountability in the people.
8.It should able to utilise all the resources including man power.
9.It should encourage the the exports and Imports and Foriegn Direct investments.
10.It should encourage all types of people to work for their own country interestingly.
11.There should not be any scope for selfishness.
12. It should not make the people to become as vote bank and should not make the people as beggars,liers and thieves.
Simply 1% increase of tax and 0.5% decrease of tax, increase of 1% rebate and decrease of 0.25% surcharge etc. all these are make confuse and critical for the remembering of Tax calculations.
Today, even degree passed people also are not able to understand the income tax calculations and not able to file the Income tax returns independently.
The present Income tax system, highly punishing only l the salaried employees ,by way tax. Because the employers are maintaining the salaries records perfectly.
Where as the Big kirana shop people, cloth business people, political leaders do not maintain their records and hence they are becoming too rich and constructing so many buildings within months or within years, by evading taxes. This system is not correct.
In every family, children, men, women, sr.citizens and super sr.citizens are there. Then why the different tax calculations?
The Tax system should be able to make the poor and rich equal. Collect the more taxes from rich people and use the money for development of country and the poor welfare schemes. Now the proposal increase of wealth tax slab from Rs.30 lakhs to Rs.5 crore, how far it is justified? And now it is giving a chance to become rich too rich.
Hence, I would request the respected and honorable Finance Minister, Prime Minister and President of India to consider the following suggestions in the coming Financial Budget.
Declare the Tax holiday for 5 years as a 5 years plan for individuals, providing an option to file the returns for refunds and other reasons.
Increase the IT exemption limit Rs. 5 lakhs. Common to all the people. And Rs. Rs.5.01 lakhs to Rs.10 lakhs 10%, Rs.10.01 to Rs.15 lakhs 20% and Rs.15.01 lakhs to and above 30%. Under sec.80cc, increase the limit to Rs.6 lakhs to all the individuals and remove all the sections and surcharge and education cess etc.,
Waive all the tax demands of individuals below Rs.25,000/- in a year.
Introduce the Taxes on Big Kirana shop people, Cloth business people and others.
Introduce the Tax on all the political and party funds.
These five years , concentrate on Black Money and corrupted money. Concentrate these five years to collect the Black Money and corrupted money of Indians from Indian banks and International swiss banks.
These five years, Identify, collect and sell or put action the Binami Assets with the co ordination of ACB, CID, CBI, state and central vigilance and Inter pol.
Simplify the tax calculations and should be easy to understand the even a 10th standard people and crate interest to pay tax for the sake of nation. Do not make the people liears and Tax evaders.
Rich people, corrupted people and Black money people must pay more Income Tax. Hence, Wealth tax exemption limit may be increased to Rs.50 lakhs only. Tax rate should be as it is 1%.
The names Trusts, Societies, Nilayas and Machineries and Charities etc., all are masks of corruption & Black money. Hence Introduce and collect the taxes on their Incomes and Assets. Un fortunately, today we do not have the famous leaders like Mahtma Gandhi and Vinoba bhave to recover the corrupted money and black money with their honest and sweet words. That means without any force, punishment and legal procedure.
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