Taxation - Budget-2010-Post ONE

The budget proposals are generally good though increase in fuel prices could have been avoided or minimised to avoid its cyclic effect.INCREASING PRICES HAVE NEVER SHOWN REDUCTION IN CONSUMPTION; PRICE INCREASES BECOME SIMPLE REVEUE MECHANISM. To save from high cost import bills on fuel and in view of the below demand electricity generation the FM should have given a MEGA THRUST to TAP SOLAR POWER.

ON THIS CENTENARY YEAR OF WOMEN'S DAY THE FM COULD HAVE GIVEN SEPARATE EXEMPTION FOR EDUCATIONAL EXPENSES ON SPOUSES WHICH WILL LARGELY BENEFIT HOUSE WIFES AS HUSBANDS WILL BE INCLINED TO PUT THEIR HOME MAKERS ON CONTINUING EDUCATION.

FM SHOULD HAVE WITHDRAWN PERK VALUATIONS OR HUMANISED THE SAME - (MY VIEWS TO APPEAR SEPARATELY ON PERKS)

FM SHOULD HAVE CONSIDERED INCENTVE IN TAXES EITHER DIRECT OR INDIRECT FOR e WASTE COLLECTIONS, oldBattery/CFL bulb collections, discarding old automobiles etc., to save environment.(Though they save electricity i understand that the old CFL bulbs may not be enviornment friendly as in the case of e waste,old batteries etc.Likewise to encourage old vehicles out of road and to give booost to automobile sector with saving of fuel consumption by discarding old vehicles instead of selling them is to be incentivised)

nothing is late FM can look into the issues now also.

ENVIRONMENT CONCERNS vs HOUSING FOR POOR

It is reported that the environmentally important COASTAL REGULATION ZONE NOTIFICATION IS BEING re made TO PAVE WAY FOR CONSTRUCTION of Houses IN COASTAL AREAS IN THE NAME OF 'HOUSING FOR POOR' and enabling recommendation is available in Report of Dr. M.S.Swaminathan Committee for review of CRZ notification 1991.WRONG THING IS BEING DONE IN RIGHT WAY by putting one of the important issue of the society against other. What Government should think over - IS THERE NOT ANY ALTERNATIVE to CARRY OUT OUR COMMITTMENT TO HOUSING FOR POOR?have we exhausted all options to poor in housing? IS COASTAL AREA PENETRATION ALONE IS WAY left out? WHO WILL BENEFIT IN LONGRUN? HOW MUCH ENVIRONMENT WILL BE AFFECTED? IF CONSTRUCTION IN COASTAL AREA IS AGAINST ENVIRONMENT THEN HOW THE PURPOSE WILL JUSTIFY THE SAME? ARE WE NOT PUTTING THE POOR IN RISk? In my opinion authorities are becoming victims of Manipulative Moves of some interested groups. Authorities must tread on the subject carefully without falling prey for their own whims and fancies or of others!

TAXATION IN BUDGET 2010- wIsh lists-I

1. To remove old vehicles from road to ensure road safety and fuel savings the FM should introduce rebate on new purchase of automobiles as replacement dumping old ones.
2. To encourage continuing education in this ever changing world the FM should allow deduction of  educational expenses on self and spouse  (of course with increase in overall increase deduction limit)
3.FM should do away with perk value taxation
4. Purchase of computers and updation should be encouraged by allowing depriciation even to individual salaried class tax payers.
5.All exemptions or deduction limits should be linked to index so that one need not wait for goodness of a FM for revision. for eg revision of tax exemption limi or 80 D for medical insurance should be made automatic linking them to index

PETROLEUM PRICES-DECONTROL

RECENTLY Kiriti Parekh Committee had recommended decontrol PETROLEUM PRICES. I OPINE THIS IS PURELY ON FINANCIALS WITHOUT CONSIDERING SOCIAL AND EVEN ECONOMIC RAMIFICATIONS. POOR AND OTHER LOW END USERS CANNOT PAY HIGH for cooking gas! HIGH COST of transport fuel MAY INCREASE COST OF TRANSPORTATION OF PEOPLE AS WELL AS GOODS AFFECTING ECONOMY. THE COMMITTEE SHOULD HAVE SEEN PRICE CONTROL AS A PERMANENT STIMULI TO THE ECONOMY.

THE GOVERNMENT WHILE INCENTIVISING AUTOMOBILE INDUSTRY SHOULD DO SO MORE FOR EXPORTS and COMMERCIAL VEHCILES WHICH are USED FOR PRODUCTIVE PURPOSES AND PUBLIC TRANSPORT INSTEAD OF ENCOURAGING RAMPANT GROWTH OF PERSONAL VEHICLES. CO ORDINATED APPROACH AMONG MINISTRIES NEEDED-

-THE BEST WAY IS TO GO FOR ALTERNATIVE ENERGY SOURCES IN BIG WAY AS WE HAVE PLENTY OF SOLAR ENERGY WASTED!-

FOR THE LIMITED PURPOSE OF IMMEDIATE SOLUTION ON UNDER RECOVERIES, PRICE DECONTROL SELECTIVELY FOR HIGH END USERS EXEMPTING ALL LOW END USERS MAY BE CONSIDERED THROUGH ISSUE OF DISCOUNT COUPONS.

LIFE TIME THIRD PARTY INSURANCE

THE FAMILIES OF MOTOR ACCIDENT VICTIMS SUFFER A LOT FOR GETTING DAMAGES AS INSURANCE COMPANIES TAKE TIME TO SETTLE AND GO FOR legal DISPUTES. THE LAW SHOULD BE SUITABLY AMENDED TO ENSURE THAT INSURERS ARE ALLOWED TO further the legal DISPUTES ONLY IF THEY DEPOSIT 50% OF DISPUTED CLAIM or 100% of their offer.COURTS SHALL ORDER MONTHLY SUBSISTENCE SAY WITH A MINIMUM OF Rs.2000/ and maximum of Rs.10000/ UNTIL THE
case is over.

SIMILARLY SURVIVING FAMILIES FIND MORE DIFFICULTY WHEN THE INSURANCE FOR VEHICLE INVOLVED IN ACCIDENT IS NOT RENEWED AS THEY HAVE TO RECOVER THE DECREED AMOUNT OF COMPENSATION FROM VEHICLE OWNERS FILING EP. SO I OPINE GOVERNMENT SHOULD GO FOR LIFE TIME THIRD PARTY INSURANCE AT THE TIME OF ACQUISITION OF VEHICLES LIKE LIFE TIME TAX.Now for Third Party insurance premiums are pooled where the 10% goes as commission to insurers.As such it was reported that large number of vehicles are not insured after few years of purchase. Lifetime third party insurance will improve spread among vehicles as there will be no uninsured vehicles and rate of premium may come down. The Government can delink third party insurance from insurers and form a separate body to pool the life time third party insurance premiums received and settle claims directly.