Name

Bhagwan

Subject

Income Tax

EmailID

bhagwan_jeswani@yahoo.com

Suggestions/ Recommendations

SIR, I WOULD TO REQUEST TO THE HON. PRIME MINISTER AND THE HON. FINANCER MISNITER THAT GOVERNMENT SHOULD COME POSITIVE ON SAVING AS IN INDIA THERE IS NO SOCIAL SECUTIRY, THEREFORE AFTER 80 C, ADDITIONAL RS. 1.00 TO BE GIVEN FOR POST SAVINGS, RS. 1.0O FOR INVESTMENT IN BONDS FOR ROAD AND DEVELOPMENTS., RS. 1.00 LAC FOR PETROLUEM BONDS, RS. 1.00 LAC FOR HEALTH BONDS, 100% FREE FOR 8 YRS @ 9%. THANKS

Name

Muthusankar

Subject

Income Tax, Investments, Interest Rates

EmailID

electricmuthu@hotmalcom

Suggestions/ Recommendations

1. IncomeTax: Now that India is financially growing faster, nearly @9%p.a, and the earnings of elite citizens has considerably increased to more or less Rs.12 Lacs per annum, to help middle class people and the poor sector people, the Individual Income Tax Limit shuld be definitely increased to Rs.250,000/-. This will enable the middle class people who are majority, to lead a peaceful life if not a comfortable life like the other Elite persons. This the F.M can easily understand, but only he must have the mind and sympathy towards his POOR Indian Citizens. It is widely spread and spoken among the people, that a Swiss Bank Director has commented that INdian Politicians are holding Deposits in Swiss Bank to the tune of 108 Lac Crores, which is sufficient to make a Tax free Budget for 20 years and can give Free educations to all Indians. India is in the hands of Politicians, who are not clean by heart as well as by character.It is most unfortunate. Indian Constitution must be suitably amended to make sure that the politicians must have the following qualifications to contest in Elections and there should b Partyless Governing;- 1. Must be a Post Graduate 2. Should be between 35 and 55 years only. 3. Should have a clean conduct and character 4. If found guilty of misconduct during their tenure, shall be dismissed forthwith and barred along with his entire family tree, for ever to participate in politics 5. Legislation and Execution must be de-linked in Indian Administrative services.

Name

CA. V.M.V.SUBBA RAO

Subject

Income Tax

EmailID

vmvsr@rediffmail.com

Suggestions/ Recommendations

Representation to Finance Minister on Budget-2008 Depreciation on Plant and Machinery- Heavy Dumpers / Excavators/Dozers etc used in the activity of Over Burden Removal (Earth Clearance) in Coal Mining Sector Depreciation – Section 32 The depreciation on Plant and Machinery was allowable @25% under the Income-tax Act up to the Assessment year 2005-06. The depreciation on Plant and Machinery in the earlier years was used to be @33%. However, during the Assessment Year 2006-07 the rates of depreciation have been reduced to 15% from the level of 25%. The expected useful life of the machinery used in Coal Mining Sector for the purpose of removal of Over Burden is shorter than its physical life due to physical deterioration on account of wear and tear. The expected life of the machinery is less than three (3) years based on previous experience and thereafter the maintenance cost like repairs and oil consumption will be substantially high. Heavy Vehicles are used in Mining Sector for the digging the earth below 100 mtrs depth on the soil having a limited useful life of less than 3 years. Based on the nature of this activity the vehicle could not be used due to heavy maintenance cost after 3 (three) years and forced to dismantle or kept to be idle. Keeping in view of the huge investment planned on such machinery, it is essential that the rates of depreciation are revised back to 33% from the existing rate of depreciation 15%. This will help in financing the major portion of cost of project of this Mining activity. Our Request: In view of the above, we request you to treat the Heavy Dumpers/Excavators/Dozers used in the activity of Over Burden Removal (Earth Clearance) in Coal Mining Sector under separate category with rate of depreciation of 33% for the purpose of claiming depreciation under Income-tax Act.

Name

Nilesh Bhujbal

Subject

Income Tax

EmailID

nil_bhuj@rediffmail.com

Suggestions/ Recommendations

Please increase basic tax exemption slab to 150000

Name

BISWAJYOTI SINHA

Subject

Income Tax

EmailID

bapansinha@yahoo.co.in

Suggestions/ Recommendations

Some assessee shown TDS (old) in their balance sheet as a deposit but I can't understand that assessment order of the assessee not clear so they carry TDS for 5years. Waiting for reply.

Name

V K A K Pandey

Subject

Income Tax

EmailID

vpandey@voltas.com

Suggestions/ Recommendations

Limit of 1.5 Lacs as interest on Housing loan should be made higher to promote more borrowing. Multiple tax structure should be abolished in phased manner to reach single tax structure.

Name

Khaja mohideen

Subject

Income Tax

EmailID

khajato57@yahoo.com

Suggestions/ Recommendations

INCOME TAX FOR INDIVIDUALS SHOULD BE RAISED FOR MEN FROM 1.1 LAC TO 1.5 LAC AND FOR WOMEN 1.45LAC TO 1.75 LAC

Name

DR.MALAISAMY, PHD

Subject

Income Tax

EmailID

agri_malai@yahoo.co.in

Suggestions/ Recommendations

I am working as Assistant Professor in Economics. Put same income tax range for men and women. Donot demark in this income tax range. You can demark between old age and others. Women wants equal rights. Then why you indicate deviation in income tax rule. It affects Cannon od equality of income tax rule. So consider this.

Name

Ashish

Subject

Others

EmailID

caterpillar76@gmail.com

Suggestions/ Recommendations

If this decision comes in Budget, then i feel octroi in Maharashtra state should be abolished. Regards, Ashish

Name

V. Loganathan

Subject

EmailID

v_lokanathan@hotmailcom

Suggestions/ Recommendations

Income tax: There should not be any gender classification on I.T. However, the Senior Citizen may be allowed special treatment. While computing IT limit, the dependants of an assessee has to be taken into a/c for the purpose of computation of IT. In some families all may be earning members and the committment/expenditure to run the family is very easy and in their case, the IT exemption may be reduced and IT may be fixed at higher % while in the case of single man/woman's income if the dependants are more, the IT exemption limit may be enhanced on a scientific line. Service Tax: At present the consumer has tp pay a Service Tax of 12.5% in addition to other taxes on the expenditure incurred / utilised through Credit Cards/ Telepone Bills etc. For these taxes IT exemption under special Section may be given so that all will pay IT without hesitation and there will not be any IT evasion by the citizen. Interest Rate: The Post Offices are having largest net work in the country spreading all the villages and therefore the interest rate to Postal scrips viz. NSC/POMIS/POTD/POSB may be restored and revised on opar with Banks

Name

N.Ramakrishna

Subject

Income Tax

EmailID

nrkrishna1973@yahoo.co.in

Suggestions/ Recommendations

Tax Slab for individuals should be increased. Business Promotion, gifts should be out side the purview of FBT

Name

Jitendra Kumar

Subject

Income Tax

EmailID

jindal_jk@hotmail.com

Suggestions/ Recommendations

The limit of Income Tax free income should be at least two Lac. and after that up to one Lac there should be 10% tax.

Name

Anil Kumar Pandey

Subject

Income Tax

EmailID

anilpandey3002@yahoocom

Suggestions/ Recommendations

Taxes on Salried Person should be given more exemption as given in the case of Business or Professionals.

Name

Amit Rahurkar

Subject

Income Tax

EmailID

amitr25@yahoo.com

Suggestions/ Recommendations

Sir, Please Allow Rs. 10,000/- to 15,000/- deduction from Income from Individual for Consumable Electronics Goods purchases (Indian Make only). So that it'll create multiple benifit for manufacturer, for tax payer and also to Govt. from increases income from taxes. Because, Consumable Elct goods is nesessity of all individual and it is must to promote Indian manufacturers.

Name

GOPALAKRISHNAN.G

Subject

Income Tax

EmailID

gopalakrishnan105@rediffmail.com

Suggestions/ Recommendations

sir, salaried people are suffering for advance tax deducted from our company. excess tax refund not issued early so, only actual tax are deduct from april to july. in this system are avoid unnessesary advance payment and re-payment.

Name

Dhananjay V Deshpande

Subject

EmailID

dvdeshpande@vsnl.net

Suggestions/ Recommendations

Many Big Companies do not pay the bills of Smaller Companies. Smaller Companies can not follow up, pursue and fight beyond a certain Extent. There are issues like continuance of the business relations with big companies. This all is a scenario which is detrimental for new entreprenureship and new enterprises. What I suggest that interest amount should be calculated on any such delayed Receivables as per guidelines and this sum would be entitled for deduction from the total income. In a simillar way, the Bigger Companies Should be penalised by adding the Interest on the payables in to the Total income at a predetermined rates. This will definitely improve the Payment situation and the Small and medium industry will be very safe.

Name

K.S.Venkateswaran

Subject

Income Tax, Service Tax

EmailID

ven18@yahoo.com

Suggestions/ Recommendations

We request the Honourable Finance Minister to give some relief in the Service tax as it becomes a double taxation for the salaried class, We are paying the income tax and also the expenditure tax. It is ok for the people who are not paying the income tax in a proper and fair manner and can be taxed heavily for their expenditure in the form of service tax but it is most unfair that the salaried class is been taxed heavily on the both angles. Regards Venkateswaran

Name

Nagaraj Shanmugam

Subject

Income Tax

EmailID

nagarajs80@yahoo.co.in

Suggestions/ Recommendations

Kindly look at the 80C section and possibly increase the limit to 2lac. Raeson: Our Indian economy is growing and also the GDP rate is at good position also the income for every individual is growing so the limit in investment must target little higher there by ensuring benefit to both government and citizen of india. hope my voice would make to think over this. Thanks for considering, Nagaraj.

Name

Auknoor Goutam

Subject

Income Tax

EmailID

aic369@yahoo.co.in

Suggestions/ Recommendations

standard deduction exemption earlier allowed for tax exemption need to be reconsidered , this is a great boon to the service class if the FM can consider.

Name

Dr. Jitesh Iyer

Subject

Income Tax

EmailID

jitesh.iyer@ranbaxy.com

Suggestions/ Recommendations

My request to the FM would be to consider revising the tax brackets. Current limit of 1.1,1.5,2.5 is too less. I feel exemption should be atleast 2 lacs. And the 30% limit should kick in only after 4 lacs. Another suggestion is differential taxation depending on cost of living in various cities. There is a stark difference in cost of living in say, Gurgaon viz a viz say, Jaipur. though both a tier 2 cities. Myabe exemption limit can be higher for cities with a high cost of living. Regards

Name

Antony Raj

Subject

Interest Rates

EmailID

antonyraj@vsnl.com

Suggestions/ Recommendations

In Japan when the tax rate was 0%, where did the Japanese park their funds? Do we not, first have to do this and then go to other 'parking slots' here in India !