F.No.334/9/2011-TRU
Government of India, Ministry of Finance, Department of Revenue, Tax Research Unit
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Room No.146-G, North Block
New Delhi, dated the 2nd November, 2011
To
Trade and Industry Associations
Subject: Suggestions from the Industry and Trade Associations for Budget 2012-13 regarding changes in direct and indirect taxes.
Sir/Madam,
In the context of formulating the proposals for the Union Budget of 2012-13, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
2. Your suggestions and views may be supplemented by relevant statistical information about production, prices, revenue implication of the changes suggested, etc. It would not be feasible to examine suggestions that are either not clearly explained or which are not supported by adequate justification/ statistics. As regards direct taxes, since the Direct Taxes Code, 2010 has been introduced in Parliament and is proposed to be effective from 1.4.2012; you may consider forwarding only those proposals which are urgent in nature. The Synopsis of your suggestions could be given in the following format:
| Sr.No. | Issue | Justification |
3. Your suggestions and views may be emailed to budget-cbec@nic.in & ustpl3@nic.in Hard copies of the Pre-Budget proposals/ suggestions relating to Customs, Central Excise may be sent Shri Vivek Johri, Joint Secretary (TRU-I), and Service Tax to Shri V K Garg, Joint Secretary (TRU-II), CBEC while the suggestions relating to Direct taxes may be sent to Shri Ashutosh Dikshit, Joint Secretary, Tax Policy and Legislation (TPL), CBDT . It would be appreciated if your views and suggestions reach us by the 15th November, 2011.
Yours sincerely,
(Santosh K Vatsa)
Budget Officer (TRU)
Tel: 011-23094693
Fax: 011-2309 5559
INCOME TAX::–IN THE INDIAN HOUSEHOLDS, IT IS MORE LIKELY THAT IF INDIAN HUSBAND IS EARNING AND WIFE IS NOT EARNING BUT NEVER BE VICE-VERSA .. .THAT MEANS, IT IS SURE THAT IF A WIFE IN A FAMILY IS EARNING, HUSBAND IS ALSO EARNING. … THE CURRENT SYSTEM OF GIVING CONCESSION TO WOMEN TAX PAYERS MEANS GIVING CONCESSIONS TO A FAMILY WHERE BOTH HUSBAND AND WIFE ARE EARNERS, AND AGAINST HE FAMILY WHERE HUSBAND IS THE SOLE EARNER. .. THIS DISPARITY SHOULD GO AND TAX-PAYING SLABS SHOULD BE EQUAL FOR BOTH MEN AND WOMEN.
I would like to submit the following suggestions for consideration
Income tax from Senior Citizens should be recovered in tern of percentage of Tax calculated as Ordinary Citizen without considering the higher limit of Sr Citizens
After calculating Tax rebate on total tax calculated be given in terms of %age of the tax so calculated e.g.
100% rebate to the individuals at the age 90 Yrs and above
80 % between the age of 80 to 90 years
60 % rebate between 70 to 80 years
40 % rebate between 60 to 70 years
20 % rebate between the age 50 to 60 years but after retirement from the active service and adopted / accepted in Consultation or advisory position
10 % rebate to all women below 50 years
Second point for consideration is reduce the age of Very Senior Citizen to 75 years instead of 80 years and create another position of as RESPECTED ELDERLY SENIOR CITIZEN attracting no tax
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These concessions may result into security to Sr Citizens because their children will like to deposit etc in the neme of their old aged parents to get the relief and will care for them which is lacking in some cases these days
Thanks