My Expectation from Budget - Very Useful Summary

totally agree with you sir - - - - - -- - 

deduction u/s 80CCD FOR NEW PENSION SCHEME : IT SHOULD BE OUTSIDE THE SCOPE OF RS. 100000/- CLUBED WITH SECTION 80C, 80CCC AND 80CCD. BECAUSE IT IS SHOWING DOUBLE STANDARD FOR BOTH THE EMPLOYEES I.E. OLD EMPLOYEES AND NEW EMPLOYEES. WHILE THE INTENSION OF GOVERNMENT WAS TO SHIFT THE PENSION BURDEN FROM GOVERNMENT TO A WELL MANAGED TRUST. THERE WAS NO INTENTION OF GOVERNMENT MAKE THE DIFFERECE IN TAXATION OF THE INCOME TAX TREATMENT SO PLEASE, EXCLUDE THE SECTION 80CCD FROM THE PURVIEW OF RS 100000/- DEDUCTION.

Dear Mr. Prakash Somani,

I m alos agree with y but some of the other expectation of myself is as follow :

1. There should be increse in Tax Slab.

2. There shold be also increse in limit of 80C (i.e. from 1,00,000/- to 1,50,000/-)

3. There should be increse in Transporte allowance from Max. 800/- p.m. to 1,000/- p.m.

4. There should be extend in Child education allowance.

5. There should be increse in Medical Allowances. (as the cost of medical exps. have incresed).

6. Also there should be increse in HR allowance i.e. at present 40% for Delhi NCR, Mumbai, Chennai and Kolkata, and 50% for other cities.

Regards,

Vikash Kumar

Dear all,

the basic need is to increase the exemption limit to atleast 3.50 lakhs so that a medium salaried employee can have some savings also......

What if 80C increased???? The person invests for future to save tax by putting the present at stake............

Think abt it frns!!

Mr Somani, agreed with some of ur points but i have some views for some points:

regarding black money, who will try.......???? the politicans ???? a person never fires his own house on fire my frnd......

Regardsing GST, no concensus has been made even after 1000's of days being wasted for the same.

These political b*st*rds are just playing prank with public money, trying to extract as much money as possible so that they can pile the same in their farm houses, whose address is not known even to GOD.....These M.C. Politicians had destroyed GREAT INDIA....

totally agree with you.....

Sir..u have pointed main things and will be consider ..

Income tax exemption: It is expected that the exemption limit will go up. Income tax slab should be increased to200,000 for individual males, to200,000 for individual females, and to300,000 for senior citizens. To promote saving of common people, the deduction limit u/s 80C must be raised from1,00,000/- to1,50,000.

Inflation: Hopes are high that inflation will be tackled in a proficient manner
Agricultural sector reforms: A number of reforms are going to take place in the agriculture sector, which include bigger investments in agricultural sector, measures for preventing hoarding in essential commodities, development in cold storage chains and agricultural logistics, investment in research and development sector in agriculture, drainage and water management, and areas associated with agricultural stimulus. Farmers are looking for relief.

Infrastructure growth: People are also hoping that stress will be put on infrastructure growth.

Food security: Food security is a burning issue and the Central Government will take care of it through introduction and implementation of various schemes

Social sector spending: It is anticipated that social sector spending in domains like primary education, primary health, family welfare, and law and order will go up.

Employment: Increasing number of jobs is what Indian people are looking at.

Public Distribution System: The Public Distribution System and rationing infrastructure should be freed from irregularities.

Corruption: With so many scams around, corruption is a major problem in the country, which should be curbed tactfully.

Fuel Price: Deregulation in fuel prices has resulted in price hike. It should be kept in check.

80CCF-Investment Infrastructure Bonds deduction may go up from 20,000 to 1,00,000

TOTALLY  AGREE

I am not interested in increasing in basic Exemption limit and Deduction us 80

As an indian we have to pay tax, in current situation, funds are blocked as black money and thefted by Ministers, in this situation we are in need of fund, these needs are satisified by way of borowings from other countries, if this situation continous india becomes slave.

The parties are interested in keeping their seats permanently, so that they offer many exemtions and other things, we people  accept the offer without thinking our indian economy.

Major Highlights of our current economy
(i) At end-September 2010, India’s external debt stock was US$ 295.8 billion reflecting an
increase of 12.8 per cent over the level of US$ 262.3 billion at end-March 2010.
(ii) The rise in external debt could largely be attributed to increase in commercial borrowings,
short-term trade credits and multilateral government borrowings.
(iii) The valuation effect contributed to an increase of US$ 6.3 billion or 18.8 per cent to the
total increase of US$ 33.5 billion in external debt stock at end-September 2010 over the
end-March level. Excluding the valuation effect, the increase in external debt would have
been US$ 27.2 billion.
(iv) Short-term debt accounted for 22.3 per cent of India’s external debt while the rest (77.7 per
cent) was long-term debt. Component-wise, the share of commercial borrowings stood highest
at 27.8 per cent in total external debt followed by NRI deposits (16.9 per cent) and multilateral
debt (15.8 per cent).
(v) The shares of Government (Sovereign) and non-Government in the total external debt were
24.4 per cent and 75.6 per cent, respectively, at end-September 2010.
(vi) The ratio of short-term external debt to foreign exchange reserves was 22.5 per cent at
end-September 2010 as compared to 18.8 per cent at end-March 2010.
(vii) The share of US dollar denominated debt was the highest in external debt stock at 53.9 per
cent at end-September 2010 followed by the Indian Rupee (18.8 per cent).
(viii) The ratio of concessional debt to total external debt declined to 15.6 per cent at end-September
2010 from 16.7 per cent at end-March 2010.

Most of the Borrowings are blocked as a black money in foreign countries. to overcome this every indian should
 join hands for the following

1. To stop Bribe (both buying and receiving)

2. Right to ask

3. To stop selling vote rignts

4. To pay tax

5. To make environment clean

" Dont blame others, see yourself's"