We are producing below the BJP’s announcement on tax from as made by them in their Election Manifesto for 2014 Lok Sabha Elections :-

Taxation

UPA Government has unleashed ‘Tax terrorism’ and ‘uncertainty’, which not only creates anxiety amongst the business class and negatively impacts the investment climate, but also dents the image of the country. BJP realizes the importance of having a Tax Policy Roadmap, so that people are aware of the future and plan accordingly. We will:

  • provide a non adversarial and conducive tax environment
  •  rationalize and simplify the tax regime
  • overhaul the dispute resolution mechanisms
  • bring on board all State governments in adopting GST, addressing all their concerns
  • provide tax incentives for investments in research and development, geared towards indigenization of technology and innovation

Source – BJP’s 2014 Election Manifesto

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Tags : goods and services tax (5596) GST (5199) income tax act (510)

0 responses to “BJP's Announcements on Tax Front in Election Manifesto 2014”

  1. B SREENIVAS says:

    Hope new Govt. should bring a simple and more beneficiary tax policy for all the tax payers, particularly for salary based employees who are eagerly waiting.

  2. Vineet Seth says:

    Let the basic exemption be Rs.3,00,000/-

    80C limit should be increased to Rs.3,00,000/- which enables salaried individuals to invest more in LIC, Govt. Secu., etc.

    Conveyance Allowance should be increased upto Rs.24,000/- per annum.

    Medical Allowance to go upto Rs.30,000/- per annum

    Vehicle Allowance should be increased upto Rs.48,000/- per annum.

  3. mj says:

    New Govt Should Fraim such Tax Policy That Inhance Foreign Direct Investement , for creating a Good Image of India in the International Matket. for Example to Remove the word “Retrospectively concept from the income Tax .

  4. K.K. SARAWAGI says:

    The new Govt. should re-introduce deduction u/s 80L upto Rs.20,000/- towards interest on bank deposits. Service tax on small AC restaurants should be removed. There should be no reverse charge mechanism on supply of manpower since the recipient cannot take input tax credit. Further, a small body corporate is obliged to get itself registered under service tax even if its service tax turnover does not reach Rs.9 Lacs.

  5. Girish says:

    COnveyance allowance exemption for salaried class is R.800/- for more than last 10 years. COnsidering the cost of conveyance increaed 3 to 4 times This limit should be extended upto 3000.00
    Similarly Medicle reembersement is allwoed upto Rs. 15000/- for last so many years GOVT should consider the hike in medicens it should be increaed to 50000/-

  6. Rajiv kumar says:

    Dear sir my pan no is- COQPK4438E and i am not getting my tds refund i will file
    my tds in 2013/september.

  7. vijayendra says:

    If only the government exempts tax on interest on bank deposits of individual depositors upto Rs.1,00,00,000(total deposits of the assessee in different banks) it will be not only a big relief to individual depositors but also money from other sectors like mutual funds, insurance policies and company deposits will pour into banking sector. This gives the much needed resources to the banking system

  8. PNV GIRI says:

    Will be happy if the new Govt. brings less complicated tax rules and abolishes service tax on certain items like food at small a.c. restaurants and reverse charge mechanism etc. It will be nice if they change the ST3 to T N VAT system of filing – uploading of all the details along with payment on monthly or quarterly basis.

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