Wishlist

Buget Wishlist 2009

 

Basic Exemption can be raised to about Rs. 2,00,000. This will increase the disposable income in the hands of individuals leading to recovery of the economy

 

Tax Rate of Foreign Companies should be increased to 50% from 40%

 

Tax rates for AJP should be increased

 

Fringe Benefit Tax should be abolished

 

Cash payments in excess of Rs. 50,000 made to a person in a year should be disallowed to curb tax evasion

 

TDS rates for professionals should be reduced to 5% from current 10%.

 

Capital Gains on shares will have to be reduced keeping in view the increasing number of people transacting in shares

 

Rate of service tax will have to be reduced by 5%.

 

More allocation of funds to be made for SSIs

 

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Pal