Fw: Photo-Budget line-most urgent

Dear Editor,

May kindly consider the flg points for publication as Wishlist of Budget 2009.

• Raise the IT exemption limit to Rs.5,00,000 on CTC (cost to company)concept and abolish all exemptions like Standard Deduction,80 C exemptions and Fringe Benefit tax etc.Make Employer responsible to deduct and deposit.Exempt Salaried group from filing of the IT return, if they donot have any other sources of income. No need for any seperate chapter of Salary Income in the IT ACT of 1961.

LOGIC: THIS WILL SAVE MANY VALUABLE MANDAYS OF SALARIED GROUP INCLUDING HIGH GOVERNMENT OFFICIALS.

• Introduce 3% Tax free bonds on permanent basis for investment from taxable income by all individuals,partnerships,companies without any limit and use the same funds for giving loans at 4% to farmers,small artisan,SC,ST small enterprenuers and in other populistic social schemes .

LOGIC: THIS WILL GIVE A NATIONALISTIC FEELING TO EVERY TAX PAYER THAT HE IS PARTICIPATING IN SOCIAL AND ECONOMIC DEVELOPMENT. THIS WILL RELIEVE NATIONALISED BANKS.FROM UNNECESSARY BURDEN OF RUNNING THEIR BUSINESS/BANKING ACTIVITIES ON UNECONOMIC LINES.

• Abolish all subsidies and free things to any category of citizens as it develops lethargy and extravaganza.Instead introduce National Wage policy common for all states increasing the existing levels of minimum wages by 50%.In case any employer does not implement, he should be subject to 1 year of imprisonment.

LOGIC: THIS WILL SAVE CRORES OF RUPEES OF GOVERNMENTAL REVENUE AND AVOIDS THE MIDDLE LEVEL POLITICAL CORRUPTION.EVERY CITIZEN WILL FEEL THAT HE IS NOT DEPENDANT ON ANY GOVERNMENT OR ANYBODY BUT LIVE WITH DIGNITY AND HONOUR.

• Introduce suitable scheme Levying only 10% tax on all the NRI receipts from Foreign banks without insisting for sources and not subject to any Wealth tax or any sort of taxes for next 15 years on all such receipts.

LOGIC: THIS WILL BRING BACK BLACK MONEY OF INDIAN CITIZES(PARKED IN SWISS BANKS ETC) TO INDIA AND PARTICIPATE IN THE ECONOMIC DEVELOPMENT OF THE COUNTRY.

• PF deductions and employer contributions of workers in the unorgnaised sector should be allowed to deposit in any Nationalsed banks under PASS BOOK SYSTEM AND NOT WITH PF AUTHORITIES.This pass book can include the nominee's details with photo etc.

LOGIC: THIS WILL ENABLE THE POOR ILLETERATE WORKERS TO CLAIM EASILY THIER ACCUMULATED PF BALANCES(OFF CURSE SUBJECT TO PF PROVISIONS) FROM THE NATIONALISED BANKS WHICH ARE NEARER TO THEM.THE EXISTING SYSTEM OF CLAIMING FROM PF COMMISSIONER'S OFFICE IS VERY CUMBERSOME AND MOST OF THE WORKERS ARE NOT GETTING THEIR PF'S FROM THE CONCERNED PF OFFICES.


Personal Profile: Chartered Accountant,Cost Accountant and Company Secretary by Profession with 30 years of post qualification experience in various industries.Presently working with Reliance Group.

Thanks & Regards
YV Rao
Reliance Industries Ltd
101,Lakeshore Towers
Rajbhavan Road, Somajiguda
Hyderabad -500 082
Direct: 040-40186013
Fax:040-40186034
Mobile:09989094159


----- Forwarded by Yv Rao/HYD/RIL on 06/24/2009 09:39 AM -----

"Srinivasu.Muppavarapu" <Srinivasu.Muppavarapu@zmail.ril.com> 06/24/2009 09:27 AM

To Yv Rao <Yv.Rao@ril.com> cc Subject Photo

"Confidentiality Warning: This message and any attachments are intended only for the use of the intended recipient(s).  are confidential. and may be privileged. If you are not the intended recipient. you are hereby notified that any  review. re-transmission. conversion to hard copy. copying. circulation or other use of this message and any attachments is  strictly prohibited. If you are not the intended recipient. please notify the sender immediately by return email.  and delete this message and any attachments from your system.  Virus Warning: Although the company has taken reasonable precautions to ensure no viruses are present in this email.  The company cannot accept responsibility for any loss or damage arising from the use of this email or attachment."