Dear Sir,
Greetings for the day !!!
Due to the debit made by the political parties for the No-confidence motion just prior to the nuclear agreement with America, the cost of materials has shoot up by two to three times and the unbearable burden is being gradually filled in by the public. The cost of living has increased and the people are not in a position to bear the same. As a measure of relief the Government should grant exemption of Personal Income Tax up to Rs. 5 Lakhs, 10% of tax up to Rs. 10 Lakhs and 15% over and above Rs. 10 Lakhs. Further, would recommend that the calculation should be based on the given slabs i.e. if an individual has an income of Rs. 14 Lakhs. The calculation should be as below:
0-5 Lakhs – To be exempted
5-10 Lakhs – 10 %
10-14 Lakhs – 15%
Also, the Government should have a check on the malpractices being done by the Manufacturers / Producers. The Govt. should form a committee to check that the consumers are not being cheated by labeling any price according to the manufactures/producers will and wish.
The Government should take initiatives to ensure that the tax payers are given due consideration and certain benefits. For instance, they should be given an exemption on paying the sales tax on the purchase of any goods/services from the shops or so, as in the current situation where individuals who are already paying the tax based on their income, they are forced to pay the sales tax also, which in turn is a burden on the taxpayer as this makes them pay the tax second time.
Thanks & regards,
K.G...C.Menon
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