small savings

I would like to quote two adage's. Siruthuli is peruvellam & Bad money
will drive away good money.
1) We should reemphasise the importance of small savings and the tax
payer should be once again given tax sop for small investments and
income from small inestments. When micro financing can get a nobel
accredition in our neighbouring Bangladesh micro investments should
also succeed in India.
2) It is already ten years since the last amnesty scheme was launcehd
and when once again given a chance, it should be ten times more
sussessful than the earlier scheme. Might be , you can even defer the
disinvestment for a couple of years and this revenue will be equal to
the 10% disinvestment.
3) Since there is a suggestion of removing STT then the rate of tax on
long term capital gains should be reduced considerably.
4) Discontinuance of the 1/6 scheme , the government has lost of data
about the non taxpayer, might be these class should be exempt from
income tax if they can show small savings inestment.
Ashok Duraisamy
Chartered Accountant
Salem 636007