Get Mobile Updates on Recent Tax Changes. Go AD-FREE with CAclubindia PRO. Subscribe Now!

Budget 2009 : Write in ur Wished...

Tax planning 583 views 2 replies

Riyaz Khan

CA CS (Exec) MBA (Fin) Asst. General

1315 Points Joined December 2008

Standard Deduction should be there in upcoming Budget for Salaried Class People as they are the only people who have to pay the maximum Tax with honesty. Unlike business men, they cant minimize their Tax beyond some point. So I think it must be there in the New Budget 2009.

Regards

R.D Khan Chartered Accountant

Replies (2)

Riyaz Khan

CA CS (Exec) MBA (Fin) Asst. General

1315 Points Joined December 2008

The government is also considering a proposal to hike income-tax exemption available for interest payment on home loans to 250,000 rupees a year from 150,000 rupees, says a report. If this proposal comes through it will be a boon.

Guest

I wish....!!

That the limit of Rs. 1L on 80C be replaced to a %age of total income before claiming Chapter VI or Rs. 1L whichever is higher. So that people with higher investment power can invest more.