Asst. General Manager,
VIJAYA BANK, Regional Office,
Panjarapole, Ambawadi,
AHMEDABAD – 380 015
To,
The Editor,
Business Line,
(Budget Wishlist)
Dear Sir,
SPARE THE SALARIED / MIDDLE CLASS
Of late, government is heavy on the salaried class, with particular reference to the treatment of perquisites such as employers providing accommodation and furniture as well as the concession in the interest on staff loans, allowances, etc.
In fact, children of the officials of bank are worst affected and no substantial compensation or benefit in this regard is given to them. The employees association, particularly the officer communities, should seriously think of running schools based on CBSE syllabus, exclusively for bank employees. There should be a budget allocation for such educational institutions catering to the transferable employees as the support of Kendriya Vidyalaya is not adequate enough.
Under the circumstances, converting the facilities such as providing accommodation and furniture and concessional interest on staff loans and conveyance reimbursement etc., into perquisites is grossly unfair and these should be kept away from the purview of income tax calculations.
In fact, in the case of salaried employees who cannot and do not avoid IT, instead of giving rebates / relief etc., in their income tax calculations pre-sumptive tax of certain percentage of say 1 to 5 % depending on their basic salary may be thought of by the Finance Ministry.
It is the middle class that ultimately bears the brunt of the burden of various government policies meant for high class as well as business communities and subsidies meant for lower class of people. While the business class is believed to be evasive of tax commitments, subsidies seldom reach the down trodden. The requests in the form of relief and reduction in duties, taxes etc., are given to the business communities for the asking.
The middle class pays the tax loyally and the same is deducted at source often, leaving them to fight it out while filing the return at the end of the financial year. When crucial decision is taken by the government in the matter of tax the interest of the middle class is often ignored and hence, certain concrete relief is required.
R S RAGHAVAN
28 6 09
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