10 inputs on Budget 2014
Thank you for your time and the fast responses on the Budget inputs request. We have shortlisted the following 10 inputs based on the submissions made.
1) Abolish 500, 1000 Rupee notes. Ensure all high value transaction are conducted through banking system cheque, draft, electronic.
2) Include Petroleum Products as items of importance in Section 14 (Sales Tax Act) leading to 3-4% CST/VAT on Petrol/Diesel.
3) Increase the tax exemption limit to 5 lakhs for the salaried
4) Increase the limit of exemption section 80 C
5) Increase the exemption limit of medical reimbursement from 15000 to 50000
6) Revise the exemption of interest paid on housing loan
7) Simplify taxes. Introduce GST and abolish other taxes.
8) Increases taxes on luxury items like alcohol, private air charter travel, imported cars
9) Curb exports of commodities in shortage domestically
10) Classify food trucks differently and ensure they move through city/state borders faster.
As you can see, many of the points made by our community are specific and action oriented. These will be submitted today to the Finance Minister and his team for review and consideration.
Thanks for your participation. It means a lot.
Rajendra Pratap Gupta
Bharatiya Janata Party more