Tuesday, June 30, 2009

s8uggestion to finance minister

Sir,
 
      You have been publishing Budget Wish list for last few days .None of the suggestions have come from an ordinery senior citizen who has been mostly self employed but now retired.
       Our country"s financial position, if viewed objectively, will be found to be in an extreemly precorious condition.we have huge current account deficit and dangerously high Budget deficit.Agriculture is in shambles and food security is seriously threaned.It is therefore imperative that we make optimum use of our resourses, increase tax collection,not by increasing tax,but by going after tax dodgers.However Ihave doubts wheather our Govt,has the political will and the guts to doso.The Govt, must go for administrative reforms We must reduce our expenses on socalled Govt. employees most of whom will come under non-performing assets of our poor countrymen.Social sector expenses must not be nade till proper and effiecient delivery to the target sector is ensured. Our govt.(read politicians) have no right to squander away scarce recouces collected from poor peopleby way of taxes.Sound economic principles should guide our finance minister and not populism.My request to the finance minister is that he should spend our resources prudently to create wealth and lasting assets which will result in continuing benifit to the target sectors and avoid profligacy. 
 
       I am a senior citizen,70 years old surviving on intert income I am not one of those Priviledged Class called Govt, Emploee who enjoys pension and other benifits and privileges.The rising prices of essential commddities and diminishing income from lower and lower interest rates has affected my living standard like never before .Can the finance minister do any thing to alleviate our difficulty?
 
 
 
                                                                                                              Biswajit Chaudhuri
                                                                                                           flat 4c 
                                                                                                      26.P.A.Shah Road
 
                                                                                                       Kolkata-700033
 
        I am sorry i do not have a photograph.        

Budget expectations: Mr. Rajiv Nath's, JMD, Hindustan Syringes

 
Dear Sir/ Ma'am,
 
Please find here enclosed Mr. Rajiv Nath's expectations from the Budget 2009-10.
 
Thanks,
Regards,
Shipra Khaitan,
 
M: 9818779226
                                             

 Indian Medical Device Industry seeks protection for the Indian Medical Device trade and manufacturing in the upcoming Budget 2009-10

 

The medical device market is currently mainly import dependent and needs a special focus and infrastructure development status at least for the next 5 years in order to make the Indian Medical Devices Industry globally competitive. There is a need for a holistic development and to regulate the industry.

 

Mr. Rajiv Nath, Principal Forum Coordinator, Association of Indian Medical Device Industry and JMD , Hindustan Syringes And Medical Devices Ltd has laid down his expectations from the upcoming budget 2009-10.

 

We expect the Government to consider creation of a new 'Medical Export Promotion Council' to promote export and to check custom impasse on the border.  We hope that the name of 'Pharmaceuticals Export Promotion Council should be changed to 'Medical Export Council' for enabling the inclusion of Lab ware, Diagnostics and Medical tourism with Medical devices. Medical devices are not medicines, so it should be treated as a separate industry. In the case of import of finished products, the residual life of the product should be at least 2/3rd at the time of import. Manufacturer and traders in Middle East region mislead Indian buyers into buying Medical goods close to expiry date at an attractive discounted price.

 

We hope the Government abolishes List 37 which consists of 111 medical & surgical instruments and appliances. According to this List, duty on import of components is higher than imported finished devices. This marks a huge loss for the indigenous industry and inhibits growth of Indian manufacturers. Importation of Blood Collection Tube(BCT), used for collection of blood for testing, incurs to a custom duty of 7.5% while import of components i.e. glass tube and cap fall under custom duty at 10% which is higher than the finished product. To develop the indigenous market the rate of custom duty on BCT as finished product must be increased from 7.5% to over 10% and custom duty on imported components should be reduced from 10% to 5%.

 

I would expect that the Government brings uniformity in VAT in all states. Some states charge VAT on MRP and others on Invoice value. The VAT should be charged in a consistent manner only on Invoice value which is the transaction value. With the introduction of the VAT, no other form of taxes should be charged on the sale/purchase/movement of goods. There is a need to have reforms in medical laws on fixed period basis, such type of fixation will facilitate tax authorities, assesses, tax advisor more awareness of the amendments in laws and its implementation.

 

 

About AIMED:

AIMED - Association of Indian Medical Device Industry comprises of over 700 manufacturers producing a wide range of products - Medical Disposables, Medical Diagnostics, Medical Electronics and Medical Equipments and Implants.

 



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RE: {Possible Spam?} Thanks for your inputs Re: AIGMF BUDGET EXPECTATIONS & DEMANDS

 

Dear Mr. Murali,

 

Have gone through the link, but there seems to be some error, instead of the word doc attached which has their wishlist it is showing my mail to you on the same!

 

-----Original Message-----
From: Murali D [mailto:budgetwishlist2009@gmail.com]
Sent: Tuesday, June 30, 2009 4:51 PM
To: firdos.arjani@adfactorspr.com
Subject: {Possible Spam?} Thanks for your inputs Re: AIGMF BUDGET EXPECTATIONS & DEMANDS

 

Thanks for your inputs.

D. Murali

http://budgetwishlist2009.blogspot.com/

 

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Oxfam India- Ms. Nisha Agarwal, CEO for the Budgetline column

Dear Mr. Srivats,

 

We work for Oxfam India which is the Indian division of an international NGO. Oxfam India came into existence in September 2008, today it works for over 200 projects across the country by partnering with 225 local NGOs who help them a wider reach at the grass root level.

 

Ms. Nisha Agarwal, CEO, Oxfam India has come back to India to work for her native land after spending two decades working for social development issues across the globe.

 

Below is a quote from here where she has elaborated on what the social sector expects from the budget 2009-10.

 

QUOTE:

 

"The economic slowdown is leading to increased unemployment and hardship for the poor and vulnerable sections of society.  In this budget, it is extremely important for the Government to expand expenditures on safety nets, such as the National Rural Employment Guarantee Scheme (NREGA), and schemes that distribute food at subsidized rates, including the mid-day meal scheme.  In addition, it is also important to provide social protection for other vulnerable sections of the population, such as the urban poor, and workers in the unorganized sectors. " Says Ms. Nisha Agarwal, CEO, Oxfam India

 

Attached is her picture and profile for your reference.

 

Regards,

 

The Science of Image Management

 

Garima Sharma Nijhawan
Senior Image Executive 

 

 

Perfect Relations Ltd.

L 93/94,Lajpat Nagar II

New Delhi - 110024

 

gsharma@perfectrelations.com  

http://www.perfectrelations.com

Tel: 91-11-46667666

Fax: 91-11-46667603

Mobile:  +91-9899175275

 

Edelweiss:Pre-Budget article from Siddhartha Sanyal, Economist

Hi,

 

Here is an article on pre-budget expectations from Mr. Siddhartha Sanyal -Economist, Edelweiss Securities. Have also enclosed his photograph.

Best regards
Ravindra

Sampark Public Relations Private Ltd. 
142, Mittal Court,
C-Wing, Nariman Point,
Mumbai - 400021
Tel: +91-22-22025550
Mobile: +91-09833176249
Fax: +91-22-22845550
Email: ravindra@sampark.com
www.sampark.com 

 

Pre-Budget Views of Mr. Vijay Bobba, CEO, I-Mint, on the Retail Sector.

Dear Sirs:

 

Kindly find attached the pre budget views of Mr. Vijay Bobba, CEO,  i-mint, India’s first multi-partner rewards programme, along with his photograph.

 

Would appreciate it if you could publish his comments.

 

Regards,

 

Parthiv  Kamani

Principal Consultant

Blue Lotus Communications

Ph: 9820025590/66522804

 

 

About I-mint

  • i-mint was launched on 1st August 2006 as India’s first Multi Partner Rewards Program wherein Airtel, HPCL, ICICI Bank, Air India, Lifestyle, Monginis, Bookmyshow.com and MakeMyTrip.com joined hands to create a single rewards platform powered by sophisticated technology.
  • On an average 4 crore i-mint points are redeemed every month
  • Unlike a single brand loyalty program, the i-mint card does not restrict its members from shopping at a particular place or purchase a particular product. i-mint points can be earned at any of the partner or merchant’s outlets across 29 cities in India. The points accumulated from across partners can be redeemed for rewards such as electronics, holidays, jewelry, gift vouchers etc.
  • i-mint gives its members an opportunity to earn i-mint points rapidly at the participating i-mint partners and merchants leading to faster redemption of rewards. Customers can locate i-mint affiliated merchants in their city:
    • Through the merchant locator on the i-mint website (www.imintpoints.com)
    • Logging on to http://imint.zook.in on their mobile browser
    • Sending an SMS with imint <location> or <category> or <merchant name> to 57575665
  • Currently i-mint
    • Has a consumer base of over 9 million members nationally.
    • Is available in 29 cities across India
    • Has a merchant base of over 3000 across several cities
    • Is the only loyalty program to penetrate Business-to-Employee sector by launching co-branded cards for employees of companies like Infosys
    • Has also, launched an e-referral website in partnership with Global Talent Metrics called STAR REFERRAL.

 

 

 

 

 

Request for publishing the attached note in Budget Line

To
The Editor,
Business Line.


Attached please find a note with a request to you to please publish the same in Budget Line of your esteemed business daily.

Also attached is a brief profile along with a photgraph.

Regards

Asit K Das
Commercial Director
P&H Joy Mining Equipment India ltd.
Kolkata

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Budeget Line - Sandesh Kirkire, CEO, Kotak AMC

Dear Sir,

 

This is with reference to your section ‘Budget Line’. Please find below some thoughts on what the budget should deliver from Mr. Sandesh Kirkire, CEO, AMC:

 

“Given the limited revenue openings for the government, an ambitious budget with steep fiscal deficit may lead to sizeable borrowings - Thus crowding out the credit requirements of the private sector, and making the financial capital dearer. Alternatively, a fiscally prudent budget may prove to be restrictive in stimulating the demand in the economy. To circumvent this situation, proceeds though divestment of PSUs seems to be a critical choice in determining the effectiveness of the budget. Remember, the market cap of 66 listed PSUs aggregate to around Rs 12,47,291 crs, And yet, there remains a vast trove of more than 220 public sector enterprises that still remains outside the pale of the equities market.

 

One of the target areas where budgetary expenditure can deliver long-term returns while also energizing the demand is - Education! Given the vast human potential endowment, it becomes imperative that this resource be adequately developed for wholesome and assimilative growth. Another focus area is infrastructure. Poor Infrastructure has long been seen as India’s ‘Achilles heels’! This situation requires unprecedented response. India is in requirement of nearly US$ 100 bn every year for five years to achieve a sustainable growth of above 9%. Budget should seek to achieve this by enhancing the PPP model and by assisting in bankability of the projects. Relaxation in ECB and FDI norms too would be a forthcoming requirement for the purpose of augmenting investment in Infrastructure.

 

On the policy initiatives front, the Union Budget may seek to balance the structural incongruities in the tax regime, and bring about a uniform taxation system. In this aspect the implementation of the Goods and Services Tax will not only eliminate the myriad of overlapping tax structures, but will also simplify the process. This will also bring about an economic integration of the various provincial markets in India; and make India a singular economic unit.

 

On the Banking side, the Reddy committee report of 2004 should be reconsidered to align the administered interest rates with the prevailing yield curve. This would remove an implicit interest subsidy that exists in the small savings market, and would lead to reduction in cost of borrowing for the government.

 

Amongst other budget possibilities, the budget should accord the equity FoF schemes the taxation status of equities, which has been a long-standing demand of the industry. There is a clear need for a Unique Identification Number (UIN) for Indian citizens. This may prove to be a common marker for state-security purpose, social identification and for financial & commercial purposes. This would also address the KYC requirements on various financial transactions.  The PAN system in this backdrop can be expanded to fulfill the objective.

 

In conclusion, I hope that this Budget represents the values and aspirations of the people; and taps on the opportunities which the present cusp of events provide”.

 

 

 

 

 

Warm Regards,

Roshan.M.Negi

Associate

Genesis Burson-Marsteller           

THE HOLMES REPORT, 2008 CONSULTANCY OF THE YEAR

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Fw: Budget wish list-Suresh Ramachandra CFO - Applications and Process Solutions, Perot Systems

----- Original Message -----
Sent: Monday, June 29, 2009 2:53 PM
Subject: Budget wish list-Suresh Ramachandra CFO - Applications and Process Solutions, Perot Systems

Dear Sir

 

Reference to the Budget opinion column "Unveil your dream Budget 2009" in Business line,

 

Please find below the Budget wish list / expectations from Mr. Suresh Ramachandra, CFO - Applications and Process Solutions, Perot Systems

 

From an IT /ITES industry perspective, the following are on the wish list that we expect the FM to consider:

·         Extension of availability of benefits under Sections 10A and 10B for STPI and EOU units beyond the sunset date of March 31, 2010

·         Abolition of MAT for STPI and EOU units enjoying tax holiday. This defeats the very objective of a tax holiday

·         Abolition of FBT, especially levy of FBT on ESOPs, which is not a "collective benefit" granted to employees.  Also several expenses, which are incurred in the normal running of the business, are included under the levy of FBT. FBT on expenditure like Gifts to customers, Client meetings, Tour & Travel and Conveyance which have no element of disguised perquisite should not be liable for FBT

·         The interim Budget had stated that the anomaly in computing the SEZ eligible profits would be rectified. At present as the ratio prescribed considers the proportion of the SEZ turnover to the total turnover of the Company and not just the SEZ unit's turnover. This reduces the quantum of exemption, if the Company has non SEZ units also and the anomaly must be rectified in the coming Finance Bill.

·         Service Tax - Need to speed up the refund of service Tax and going forward exempt service tax for all Export oriented units.

·         Look at possible reduction of Tax rate for corporate tax rates and look at reduce cess and surcharge.

These are the things we request the Finance Minister to consider given the current economic situation that IT / ITES industry is facing

Please let me know, if you need any additional inputs from Mr.Suresh Ramachandra. We would be happy to coordinate for the same.

Warm Regards

Jeeva Rekha

Genesis Burson-Marsteller
THE HOLMES REPORT, 2008 CONSULTANCY OF THE YEAR

 

4th Floor, Ghatala Towers | 19 Avenue Road | Nungambakkam | Chennai 600 034, Tamilnadu, India | web: www.genesisbm.in 

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AIGMF BUDGET EXPECTATIONS & DEMANDS

 

Hi,

 

This was regards your column Budget Line, we would like to share on behalf of AIGMF (All India Glass Manufacturer’s Federation) their budget demands & expectations in the same. You can attribute the same to Mr. Arun Kumar, Spokesperson AIGMF & President AGI Glaspac, the glass division of Hindustan Sanitaryware and Industries Ltd. whose profile is attached for your perusal along with his photograph.

 

Let us know how we can take this forward, kindly get back for any further queries, thanks!

 

 

Warm Regards,

 

Firdos Arjani

Account Manager

 

Adfactors PR Pvt Ltd

Rajmahal, 3rd Floor,

84 Veer Nariman Road,

Churchgate, Mumbai 400020.

Tel: +91 22 2204 9803-04

Mob:+91 9920063777; 9869316784 

Fax: +91 22 2204 9814

Email: firdos.arjani@adfactorspr.com

          firdosarjani@gmail.com      

 

P Let's Get Results

 

The information in this email is confidential and is intended solely for the addressee(s). Access to this email by anyone else is unauthorized. If you are not an intended recipient, you must not read, use or disseminate the information contained in this email.

 



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Pre-budget quote by Mr Aniljit Singh, Chairman and MD, Max India

Dear Mr Srivats,

 

Please find below the pre-budget quote by Mr Aniljit Singh, Chairman  & MD, Max India. Also find attached the picture of Mr Aniljit Singh.

 

 

Pre-budget Quote by Mr Aniljit Singh, Chairman & MD, Max India

 

The assurances given to the international business community in over the last few years must be fulfilled.  It is humiliating for Corporate India to always be defensive and in explanatory mode.

 

 

 

 

The Science of Image Management

 

Shweta Sawhney
Image Executive

 

 

Perfect Relations Ltd.

L 93/94,Lajpat Nagar II

New Delhi - 110024

 

ssawhney@perfectrelations.com 

http://www.perfectrelations.com

Tel: 91-11-46667666

Fax: 91-11-46667603

Mobile:  +91-9953880267

 

Suggestions for the the FM

Dear Sirs,
FM shall do the following in the ensuing budget.
1. Reduce the cost of general drugs by 50 percent and life saving drugs by 75 % thereby  making the medicines purchasable by ordinary
people.2. Reduce the serevice tax on all services to two percent across the board. 3. Reduce the premium paid on Life insurance policies by 40 %. LICI is making huge priofits every year. Benefit should go to policy holders. 4.Increase the income tax exemption limit to three lakhs  to all tax payers irrespective  male and female and those completed sixty years of age should be treated as senior citizen for the purpose of income tax assessment.5. Remove tax deduction of  fixed deposits kept with any commercial bank in India  without any limit.
6. Increase the rate of interest on savings deposit  to six percent. 7. For senior citizens  upto ten lakhs deposit for ten years should be paid twelve percent interest rate and  only one account should be  opened at the place of permanent residence only.
Please consider.
I am afree lance journalist and a senior citizen.
Yoursa faithfully
DR.C.T.George RNRA A 31/2 Bharatham first floor, Rajeev nagar voltas lane Trivandrum 695014.

Pre budget comments from Pegasystems India

Mr. Suman Reddy Eadunuri, MD Pegasystems India says:

 

This year there is a huge anticipation for the Union budget, as there is a lot of help that the economy is seeking from the new government after more than a year of struggle.

 

From the IT/ITES industry’s perspective, there is a lot that the industry is expecting from budget 2009 such as

·       More investments to improvise the quality of Primary and higher education with greater use of ICT that perhaps brings some changes in how the money is spent and can help in creating industry ready talent on a long term perspective.

·       Extension of STPI benefits for a few more years and streamlining general tax anomalies should be thought through. In general, tax exemptions and relaxations will continue to keep India competitive with respect to the other emerging markets.

·        Security Strengthening is another area that clearly needs more investments and sophistication.

 

As far as the macro issues are concerned, some of the priority points in my opinion would include a strong consideration towards rural development initiatives like irrigation projects, housing schemes and providing Microcredit to spur entrepreneurship among the poor. I would also expect the budget to allocate sufficient funds for improving the educational infrastructure in the interiors of the country and also uplift the existing system throughout the country. All the above mentioned points will definitely boost the employment scenario. Infrastructure is another major concern for a country like ours which every body is talking about and surely is a part of everyone’s budget wish list. Any improvement in infrastructure especially airports, good road network and superior communications will create an environment where more people would want to work and invest in India thus giving the necessary impetus to the economy.

 

Profile of Suman Reddy Eadunuri:

Suman Reddy Eadunuri is the Managing Director of Pegasystems Worldwide India Private Ltd. Mr. Suman is responsible for the overall R&D and the operations of the Indian entity. Mr. Suman has joined Pegasystems in March 2004 and brings with him 12 plus years of experience in IT Industry. At Pega Mr. Suman has been involved in various initiatives in building and expanding the North American Pega Professional Services organization prior to assuming the role of Managing Director for Pegasystems India.

 

Prior to Joining Pegasystems, Mr. Suman has worked with Fortune 100 companies in various capacities with technology as the primary focus.

Pre budget comments from Pegasystems India

Mr. Suman Reddy Eadunuri, MD Pegasystems India says:

 

This year there is a huge anticipation for the Union budget, as there is a lot of help that the economy is seeking from the new government after more than a year of struggle.

 

From the IT/ITES industry’s perspective, there is a lot that the industry is expecting from budget 2009 such as

·       More investments to improvise the quality of Primary and higher education with greater use of ICT that perhaps brings some changes in how the money is spent and can help in creating industry ready talent on a long term perspective.

·       Extension of STPI benefits for a few more years and streamlining general tax anomalies should be thought through. In general, tax exemptions and relaxations will continue to keep India competitive with respect to the other emerging markets.

·        Security Strengthening is another area that clearly needs more investments and sophistication.

 

As far as the macro issues are concerned, some of the priority points in my opinion would include a strong consideration towards rural development initiatives like irrigation projects, housing schemes and providing Microcredit to spur entrepreneurship among the poor. I would also expect the budget to allocate sufficient funds for improving the educational infrastructure in the interiors of the country and also uplift the existing system throughout the country. All the above mentioned points will definitely boost the employment scenario. Infrastructure is another major concern for a country like ours which every body is talking about and surely is a part of everyone’s budget wish list. Any improvement in infrastructure especially airports, good road network and superior communications will create an environment where more people would want to work and invest in India thus giving the necessary impetus to the economy.

 

Profile of Suman Reddy Eadunuri:

Suman Reddy Eadunuri is the Managing Director of Pegasystems Worldwide India Private Ltd. Mr. Suman is responsible for the overall R&D and the operations of the Indian entity. Mr. Suman has joined Pegasystems in March 2004 and brings with him 12 plus years of experience in IT Industry. At Pega Mr. Suman has been involved in various initiatives in building and expanding the North American Pega Professional Services organization prior to assuming the role of Managing Director for Pegasystems India.

 

Prior to Joining Pegasystems, Mr. Suman has worked with Fortune 100 companies in various capacities with technology as the primary focus.

Take a fresh look at the structure of the I.T.Act

Sir,
I am a chartered accountant in practice since 1981 at Palakol in A.P.
I think it is time that a fresh look was taken at the structure of the I.T.Act and also some of its provisions.
The following are what I expect from the budget and the Finance Bill.

1. The work of simplification of IT Act should be resumed. The simple acts of shifting the computational provisions relating to each head of income , the provisions relating to deductions, shipping companies, FBT and TDS to separate schedules to be inserted at the end of the Act and deletion of inoperative provisions with a suitable amendment of s.297 of the I.T. Act incorporating a saving clause regarding actions already taken or rights vested or duties not performed will go a long way to reduce the size of the I.T. Act.
2. The quantum limits in ss.40A (3), 269SS and 269 T and the TDS provisions, fixed long ago, have remained unchanged. Consider the plight of single truck and two- truck owners in the context of s.40 A (3) and s.194 C (limits fixed in 1988) in the back drop of increase in the operating costs such as diesel several times over since then. [Though, Second Proviso to Cl.(i) of s.194 C (3) gives some relief , it is restricted to cases of sub-contractors only.] Or consider the measly limit of Rs.2500 p.a u/s. 194 H as against the basic exemption limit of Rs.1,50,000 for individuals. It is high time, in view of the relentless inflation, that these quantum limits were suitably inflation adjusted and for this purpose the Cost Inflation Index vide Explanation (v) to s.48 can be adopted.
3. Similarly, basic exemption limits and ceilings for deductions u/ss.80C , 80 D etc., should be inflation adjusted
4. Normally, the incentives given to exporters and Industries benefit mostly the big ticket investors / business houses. Take for instance s.80 IB (10) providing for 100 % exemption to housing projects (approved before the prescribed date ) with an area more than one acre. There should be a linkage between the quantum of tax benefit / incentive with the fixed capital invested and / or additional jobs created with an appropriate multiplier so that the benefits reach the larger sections of the Society.
with regards
P.V.R.Prabhakar


RE: Budget Wishlist - Mr. Dinesh Thakkar ( CMD - Angel Broking )

Thank you for taking our views

 

 

Regards,

 

Saraanya Shetty

Asst Manager - Corporate Communications

612 Acme Plaza,

M.V. Road,

Andheri (E), Mumbai-59

Main              : (91-22) 022-4000 3600 ext. 391

Hand phone:  :  98194 60747

Facsimile       : (91-22) 022-40003699

Website         : www.angeltrade.com

 

 

From: Saranya Shetty
Sent: Monday, June 29, 2009 2:40 PM
To: 'budgetwishlist2009@gmail.com'
Cc: 'raviranjan@thehindu.co.in'
Subject: Budget Wishlist - Mr. Dinesh Thakkar ( CMD - Angel Broking )

 

Dear Sir,

 

This is in reference to your column “Budget Line”, must say it’s a very good opportunity given to people to voice their opinion & present their wishlist in front of the Avid Readers of your esteemed publication .

 

Enclosed please find a copy of the article on Budget Wish list written by Mr. Dinesh Thakkar ( CMD – Angel Broking) highlighting different points which will be beneficial for various sectors. Please do let me know if you require any further information on the same .

 

 

Many Thanks,

 

Regards,

 

Saraanya Shetty

Asst Manager - Corporate Communications

612 Acme Plaza,

M.V. Road,

Andheri (E), Mumbai-59

Main              : (91-22) 022-4000 3600 ext. 391

Hand phone:  :  98194 60747

Facsimile       : (91-22) 022-40003699

Website         : www.angeltrade.com