Tax sweetener for all, sweeter if you’re richer

ENS Economic Bureau Tags : Union Budget 2009, Income Tax exemptions, Pranab Mukherjee Posted: Monday , Jul 06, 2009 at 0847 hrs

Senior citizens will not have to pay tax up to an annual income of Rs 2.4 lakh.

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The trap for salaried professionals lies in the way fringe benefit tax has been shifted from the employer to the employee. The gains from employee stock option plans (ESOPs) will now be taxable at the employee end. The contribution by employers to approved retirement funds in excess of Rs 1 lakh will be taxed at the hands of employees, resulting in an increase in their tax outgo.

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Congress for RichBy: Karkotagan | 07-Jul-2009 Reply | Forward At the time of Recession Congress is trying to play a dangerous game by giving away all the tax income to the government, that too for the riches. Now that Riches will become rich and poorer will be poor ever. There is no affirm action plan for the poor except the NREGA, which is most corrupt in many parts it is implemented. from the definite sources the councillors and panchayat unions itself take 20 to 40 rupees per person depending on the area and opposition from people and the money is spent not the way it has to be. They are giving money to contract workers whoi are already working for raod laying and other government jobs and getting thumb impression or signature from them. I think instead of spending in NREGA government can ensure social security for All Senior Citizens above age 55 or 60 years and give them this money of Rs. 3000/- on Monthly basis. And make the younger generation explore the world instead making them fools and lazy.

Discriminate budgetBy: biplab | 07-Jul-2009 Reply | Forward Congress has been playing vote budget from beginning. If they spend on poor then only money come to their pocket .They are very much sure that, vote will come from poor not middle class. If they spend 50 rupees on poor then will be in power for next 5 years.Nothing they have done for low/middle class families.

middle class v/s union big 'B' 2009-10By: vasu dev daswani | 07-Jul-2009 Reply | Forward Big Budget 2009-10 is presented by our full majority elected single party government so there is no need to care middle class families because they do not own any strong leader who raise his voice. Only source is to write by this column only. I humbly request pranab da to increase salary exemption limit to minimum 2 lacs as promised by congress party.

senior citizensBy: Colin | 06-Jul-2009 Reply | Forward having worked and paid taxes all their lives senior citizens should be totally exempted from the tax bracket irrespective of the income they earn

Good for Rich and Bad for Middle Class TaxationBy: Krishna Datta | 06-Jul-2009 Reply | Forward The union budget focused only on Rich and not at middle class. The reduction of taxes on Plasma TV and Branded Jewelery. Pranab must have checked with his wife on what are on her priority list and reduced the same. The tax reief a employee would maximum get is Rs 3000/- where any employee in corporate sector gives away 2 months take home as taxation. Also the Medical allowence of 15000/- per year should be re-looked per number of family members or at least revised to 30000/- year against production of Medical Bills. Pranab wake up and act.

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