Regarding Budget wish list 2009

Sir,

Some of the the changes that I would like included in the budget 2009 are as follows.

1.  Increasing the deductin under Sec. 80D for mediclaim policies to at least Rs. 25000 uniformly for all assessees irrespective of age.

2.  Increasing the exemption limit for income tax to Rs. 3 Lakh.

3. Increasing the exemption  under section 80C to at least Rs 2 lakhs to induce taxpayers to invest in PPF, NSC, Pension funds etc.

4. Give a special exemption of , say, Rs. 40,000 per year to assessees (not dependents) suffering from designated chronic illnesses like heart disease, chronic kidney disease, cancer and stroke as these diseases definitely decrease the earning potential of the individuals.

5. Give maximum tax concessions for the import of Life saving and diagnostic medical equipment.

6. Re-introduce a Standard deductin of at least Rs. 50,000 for the salaried class as they don't enjoy the deduction of expenses, or depreciation like other professionals or business men.

7.  Give a spicific exemption of , say , Rs. 40,000 or 50,000 for Interests from Bank Deposits as the retired elderly assessees rely heavily on the interest income from bank deposits for their post retirement needs and medical expenses.

7. To generate revenue, the wealth tax for high networth individuals may be increased marginally.

 

Thanks,

Yours truly

Dr. K. V. Sahasranam.

"Sanjeevini"   Chevayur, Kozhikode 673017

Mobile 9447433598

 

My brief profile

Dr. K. V. Sahasranam  MBBS, MD, DM (Cardiology)

I am a former Professor of Cardiology at the Calicut Medical College and am at present working in a multispeciality hospital in Calicut (Baby Memorial Hospital) as a Senior Consultant Cardiologist.

I am an avid reader of your papers The Hindu and Business line and your column on Budget Wish List is really fascinating.