FOR "BUDGET LINE" PAGE
RAISE IT CEILING AND SAVINGS LIMIT AND SCRAP TDS
Despite inflation drifting to Minus 1.6 per cent, middle-class housewives are left with no money for saving to meet future family commitments as their house-door expense on essentials like vegetables, fruits and grocery has trebled in the last one year. With every other segment of the society claiming an increase citing hike in their living cost, housewives' expense on rent, water, electricity, education, uniform, shoes and medical has skyrocketed further hiking their living cost. With mobile phones and cable television becoming part of daily life, these charges also add to fiscal burden. In effect, housewives' overall expense to run the family has risen five times in the last three years. In many homes, income has reduced due to job or salary cut arising from recessionary impact. Dependence on bank interest has risen. Housewives live in a fear of uncertain future regarding owning houses and vehicles, higher education for their sons and marriage for daughters. So, Finance Minister should (a) double the IT exemption level to Rs 3 lakh, (b) double allowable deduction under Section 80 C to Rs 2 lakh and (c) scrap TDS on bank interest or raise the annual ceiling to Rs one lakh. Middle-class households badly need tax-break and incentive for safe saving.
-- S. Shyamala, Coonoor.
About me:
I am a house-door fiscal analyst working for the improvement of housewives, home makers and self-employed women.
Address for communication:
S. Shyamala,
308, Reilly Compound,
Coonoor-643 101.
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