Tuesday, June 30, 2009

FW: MY BUDGET EXPECTATIONS

Dear Sir,

 

I await the publishing date / details at the earliest. Trust even if I am not a CEO

Of any company, hope a Middle Management Executive’s Voice shall also find

A Place in your Columns.

 

Thanks & Best Regards.

 

C.K.Natarajan.

DGM – Marketing,

KIRBY BUILDING SYSTEMS INDIA LTD

No.2, Old No.25, Second Lane, Cenotaph Road,.

Alwarpet, CHENNAI 600 018.

91 99400 97719

cknatarajan@kirby-india.com

cknatarajan@yahoo.com

 

 

From: Chittur Krishnan Natarajan
Sent: Thursday, June 25, 2009 3:57 PM
To: 'BudgetWishList2009@gmail.com'
Cc: 'svaithyanathan@maa.kirby-india.com'; 'kreddy@kirby-india.com'
Subject: MY BUDGET EXPECTATIONS
Importance: High

 

Dear Sir,

 

 

Please find herein my Budget wish list – hope the FM would lend his listening ears !

 

Personal Income Tax :

 

Tax Free Limit should be raised to Rs.5.00 Lakhs for Men & Rs.6.00 Lakhs for Women. This is long overdue as even fresh recruits start with a Salary of not less than Rs.25,000 per month ! It is unfair to tax the law abiding salaried class for so long !

 

Also, Tax free conveyance allowance of Rs.800 per month is a mockery & cruel joke on the salaried. It should be raised to at least  Rs.5,000 per month against evidences / self certified documents & original travel documents can be demanded if required.

 

There is absolutely no difference in the purpose & functionality of a Professional / Salaried Employee using his own  car to commute between his home & his workplace compared to that of a Businessman using cars to carry on his business. Hence, the Expenses on Car,  its EMI , Petrol & Maintenance Costs, Motor Vehicle Insurance, Life time tax, Depreciation  etc – all should be available to Salaried just as allowed to businessman, who can hide his real income in many ways, but a salaried man cannot !  If need be,  the Salaried Person can be requested to submit all such documents as deemed necessary to avail this Tax Concession – after all – all these expenses do go to the State or Central Exchequer only ! Additional Tax Concessions could be given for owners of small cars like Wagon R, Alto, Spark, Indica, i10 etc. that consume less fuel & obliging Euro Norms for Pollution!

 

Since Cost of Education has gone up so much, exempting to an extent of Rs.1,200 per child is again frivolous! All the High School &  University Tuition Fees & Special Fees should be made totally Tax Exempt ! Since Education means Empowerment, additional fillip could also be thought of like, waiver of Tax for the Exam Fees paid etc.   

 

Indirect Taxes:

 

The Central Excise Duty shall have only Two Rates: 5%  & 10% - Education Cess & Surcharge should be withdrawn immediately; this measure would certainly boost the Industry’s morale ! All cumbersome Excise rules to be made Industry friendly & simpler to understand, interpret & implement !

 

The Service Tax levied on as many as 81 services shall also come under two rates – 2% & 4% . The Government’s Aim should be to encourage & instill a Spirit of TAX COMPLIANCE & not TAX AVOIDANCE !

 

Another major source of Parallel Economy is in the Sale & Purchase of Gold ! The Fin Min should propose a Common Sales Tax of just 0.005% on the Sale Value of all Gold transacted & make buying or selling Gold / Gold Jewellery   without such a TAX BILL a NON BAILABLE & CRIMINAL OFFENCE, and liable for a Judicial Custody of minimum 30 days ! But such a Penal Provision shall be made only if Government considers implementing  better Tax Saving Proposals cited above

and  the Govt. is sincere in improving the lots of Silent Majority of Middle Class Indians who spend more than half of their earnings to the State or Central Governments in one form or other !

 

Enough of Export Incentives !! Please grant identical sops to such Export Quality Products for Indian Consumption Also !! Are Indians not competent to enjoy

such Export Quality Products ? Then, why such discriminatory policies ? I am not against any export sops but then, charity begins at home !!  Most of the Export Benefits benefit the Governmental Officers of the Revenue Department more than the Industries or the Country that utilize the benefits !

 

 Since the Entertainment Industry offers HUGE SCOPE for BLACK MONEY, all the Industry related people should be brought under tax net irrespective of their earnings & taxed heavily. If India has to be a Super Power by 2015, ( or at least by 2020 as per the Dream & Vision of our own  Honorable :  A P J Abdul Kalam , the Thinking President of India ), then, India should tax heavily the Time Stealers of Entertainment Industry in a measure that deems fit !

 

 

Thanks & Best Regards.

 

C.K.Natarajan.

Kirby Building Systems India Limited.

2, Second Lane, Cenotaph Road,

Alwarpet, Chennai 600 018.

Res: 2 489 59 56  Off: 2 432 37 44 / 46



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