Thanking You in
Anticipation !
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Today’s Hindustan Times carries following news :
The finance ministry is considering
giving relief to taxpayers in the form of higher income tax deduction, said two
government officials familiar with the developments.
The current relief is Rs 2 lakh and
discussions are on to increase it to at least Rs 2.5 lakh. The extra deduction, however, will be available
only on investments made by taxpayers in government infrastructure projects,
the officials said.
“ Discussions are on to give relief to
taxpayers in the form of higher tax deduction. The higher deduction will be for investing in infrastructure projects in the form of bonds or through equity-linked savings schemes,” said a government official, who asked
not to be named. These investment routes are likely to have a lock-in period, he added.
“There is intent to give tax relief to
as many taxpayers as possible, but a higher deduction will mean loss of revenue
so the exact quantum of the relief will depend on the government’s fiscal
elbowroom,” said another government official.
“ A higher tax deduction for investment
in government infrastructure projects would mean more money will be channelized
into these projects and in capital markets. Every Rs 10,000
increase in the deductions will lead to an additional investment of Rs 7,500 crore, if we consider 75 lakh people
pay income tax in India,”
said Girish Vanvari, partner and head, KPMG India.
Dear Shri Jaitleyji :
Thank you in anticipation of such an announcement on 01 Feb 2018
Thank you for reading my following 22 emails where I have suggested that :
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“ Under a BLACK MONEY
AMNESTY SCHEME , all hidden income deposited in Infrastructure Bank
Accounts ( similar to Jan Dhan Accounts ) , can only be used for investing in
Govt Infrastructure SPVs , with a lock-in period of 10 years and all interest /
dividend to be only credited to such Infrastructure Bank Accounts and no money
can be withdrawn from such accounts for specified period “
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It may still not be too late to enlarge your proposal
( from just raising tax limit, from Rs 2 lakh to Rs 2.5 lakh ), which might
fetch you a meagre Rs 7,500 crore ( a little over $ 1 Billion, as against Asian
Development Bank’s estimate of India’s need for Infra
Funds at $ 291 billion / year , for next 14
years ! – with just Shri Nitin Gadkari and Shri Piyush Goyal needing $ 300 Billion for their ministries , in next 4
years ! )
My suggestion could get you Rs 75 lakh*crore for Infrastructure !
Baba
Ramdev and Black Money [ 29
May 2011 ]
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