The Editor,
Business Line
With response to your invitation for Budget Wishlist/Suggestions, I give following suggestions for the consideration by the Finance Minister.
1. To route major expenses through official route, Finance Minister should provide an incentive, , in form of deduction of taxable income, may be up to a limit, for all expenditure incurred through Credit/Debit Cards (Plastic Cards). This will not only reduce the volume of CASH transactions but also may result in insistence on the part of the consumers for the payment through Cards and the merchant will have no option but to account for the sales in his books.
2. For salary class people, Standard Deduction should be made available or alternatively, each employee should be allowed to get certain expenditure, incurred in respect of attending the office, like professionals i.e. doctors, lawyers, CAs etc who are getting depreciation for the CAR used by them for com muting to their workplace, Maintenance cost for Vehicle etc.
Chief Manager
IT-PSG,
State Bank of India
CBD Belapur
Navi Mumbai 400 614
Mobile: 9833268444
Extn: 1162
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