WHAT YOU THINK OF THIS BUDGET?

A realistic Budget.

In my opinion, the surcharge on non-corporates should not have been removed

The 80C limit should have been increased to 1,50,000/- instead.

If we see from the angle of tax evasion FBT should not have been removed.

I agree 80C deduction should have been increased.

Good move on covering advocate services within purview of service tax

 its a good budget

It is just a Lolypop to Public.

It's not a Budget for General Public

Wht a Common Man can get, he can only save his Rs. 1000 of Tax, thats all. For a Common man elimination of Surcharge is of no use. Elimination of FBT is also of no use. No Standard Deduction is given to a Middle Class Salaried Employee.

So it's a Very Bad Budget this time...

Well, its not such a bad attempt. I think in these periods where before this budget, the govt. having already announced three stimulous packages for industry did well to not discontinue even one of them. so who said they did not did anything for corporates.

GOOD POINTS :

1. Aboloshment of FBT. now this is good from both coporate as well as revenue point of view. YES reveune will benefit because earlier the assessee used to escape disallowability on certain expenditure on the point that FBT has been paid. that will no longer be the case. so dont find it strange and it could be a good trick of Pranav.

2. Minimum increase in Individual slabs : since in last budget the limits have been significantly improved, on a macro level, it is wrong and unjustified on part of public to expecty anything more specially considering the fact that the global meltdown has resulteed in reduced incomes and the fiscal deficit has touched new hights.

3. Abolishment of CTT

4.  Phasing out of Surcharge.

5. NO  part of surcharge and E.cess in TDS

6. Advance tax amount increased to RS 10000

7. Changes in relation to salary in partnership firm.

8. TDS rates simplified for 194C & 194I

9. fuinally the logical Clarification on profit computation formula for SEZ

10. Finally starting the era of service tax on Doctor services by charging service tax on Plastic surgery.

11. Penalty clause under section 206CC for not provding PAN no. by deductee.

POOR POINTS :

1. MAT increased to 15%

2. Introduction of 44AD for ll small businessman. As it would rather increase their cost for audits as nobody will pay tax of say RS. 70000(30,00,000*8%*30.9%) instead of their present tax of say Rs. 30,000. They will rather pay their CA RS. 5000 for Audit. so not successful in my eyes.

3. No benefit for housing loan/ housing sector.

4. Concept of 100% deduction on electrol party donation, once again a tool of toying with IT of political parties as is the case with 80GGA & 80 GGB.

5. No corresponding change in 80E for severe disability clause. (could not find the reason why?)

Hence i still think i am quite happy with the budget.

And MR. RD donot you think we should think by stepping into the shoes of pranav mukharjee rather than thinking like a common man. I completely disagree with your views, completely!

This is an average budget not a popular one. Lot of expectation prior this budget and that’s the reason we feel let down by Hono'able Finance Minister. I feel we should be pleased as the no new burden is pushed on and hope the govt would reverse the situation.

Only loss what I feel is there is no new policy measure or reforms by government to ensure more transparency and growth within the economy. I feel our country can have a growth rate of more than 9%, but there is lack of transparency and honesty, which the government fails to implement in every budget. Our governance is time consuming and costly, there is no simplification of information and connectivity with government may that be central of state. Our expenditure has rose to more than 10 lakh crore and this time the centre should implement better infra and better governance inplace, so that it helps common man.