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Taxing matters
The news “I-T exemption limit set to be
Rs 5 lakh” (June 14) is like sweet music to the ears of the salaried class people numbering more than half of the roughly 35 million taxpayers in our country. Raising the income tax exemption limit from
Rs 2 lakh to Rs 5 lakh will lead to savings of more than Rs 30,000, plus 2% education cess and 1% secondary and higher education cess on income tax per annum for a person whose salary is more than
Rs 5 lakh per year. This will decrease his financial burden to some extent in this era of high inflation. May this pleasant and bold act of the government become a reality in the ensuing Budget. It will inspire and motivate the employees to work more honestly, sincerely and efficiently. Er. KK Sood, Nangal
Taxing the elderly
The senior citizens deserve a special attention in the union budget expected next month. A few years back, they were allowed a tax rebate of up to
Rs 20,000, keeping the non-taxable income on a par with the others. A mere
Rs 50,000 extra tax-free income allowed to senior citizens by the UPA government is a cruel joke. At least
Rs 2,000 income tax should be exempted for them. They have been paying their taxes dutifully during their working years. Now their earnings are mostly from the interest of their savings and the principal amount on which they are getting the interest has already been taxed during their service days. We are hoping for a favourable consideration from the BJP Government. LJ Singh, via email
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IT relief for seniors At present, income up to Rs 2 lakh is not liable to tax. The additional benefit of a few thousand rupees available earlier to women was withdrawn by the previous government in the Budget for 2013-14. The senior citizens have been clamouring for relief for the last three years but the tax exemption limit for them remains constant at Rs 2.5 lakh. This has placed them at disadvantage vis-à-vis their juniors. At present the general category person can avail themselves of exemption upto Rs 3.20 lakh inclusive of Rs 1 lakh under Section 80C, whereas senior citizens are not entitled to any benefits beyond Rs 2.5 lakh. In these days of soaring prices, the exemption of Rs 2 lakh for the general category appears to be too meagre and should be raised to Rs 3 lakh. Similarly, the senior citizens need relief at the fag end of their lives. People hopes that the new NDA government will vouchsafe the interests of all categories of persons. The income tax exemption limit should be raised to at least Rs 3.60 lakh for senior citizens. Also, senior citizens aged 75 years and above should not be required to file the income tax returns for taxable income upto Rs 5 lakh a year as it will mitigate their hardship as many are unable to visit the income tax offices to file returns or bear the ordeal of standing in long queues due to ill health and age. RL Bhardwaj, Mohali Classify elderly
Senior citizens deserve a special treatment in the evening of their lives. They are pinning hopes on the new Finance Minister Arun Jaitly for raising the income limit for tax. There should be three categories of the senior citizens: young senior citizens (60-70 years) for whom the income limit should be
Rs 3 lakh in place of Rs 2.5 lakh; old senior citizens (70-80 years) for whom the limit should
be Rs 4 lakh; and older senior citizens (above 80 years) for whom the limit should be increased to
Rs 6 lakh. C. Kathpalia, Jagadhri
Simplify tax code
The common man is most affected by inflation, hoardings and adulteration. The culprits should get deterrent punishment. Another significant concern is income tax. Surprisingly, no political party touched this aspect in its manifesto recently. The Parliamentary Standing Committee on Finance headed by BJP leaders has recommended tax exemption limit of
Rs 3 lakh in the proposed Direct Tax Code (DTC). It was initiated by the UPA-I regime. The government should simplify the DTC by scrapping all exemptions, rebates and deductions and allow a solitary tax exemption limit for the three categories:
Rs 5 lakh for individuals below 60 years of age, Rs 6 lakh for senior citizens of 60 years and above and
Rs 8 lakh for super senior citizens of 80 years and above and levy tax on the residue income at moderate rates. AB KOHLI, New Delhi
Taming inflation
Inflation, particularly food inflation, has once again started raising its head. Hoarding, not scarcity of a commodity, has become the major cause of rise in prices and this is only possible due to a nexus between the bigwig traders and politicians. Rising inflation not only impacts one’s budget, but is also a drag on the overall growth of economy. It causes frustration among the common people. The real test of the Modi dispensation lies in its ability to tame this monster and break the trader-political nexus. ASHOK K. ASHU, Patiala
Learning English
The article by Col DS Cheema (retd) “My First Professional Fee”
(June 4) made me nostalgic about the my college days in 1971 when I heard Om Parkash ‘Arif’ speak on AIR on phonetics and explain the pronunciation of words such as ‘is’, not ‘ij’ and ‘lion’, not ‘loin’. I have realised that the English language must be taught from class I and not from class VI in government schools as was done in our times. ASHWANI SETHI, Giddarbaha
Hockey coverage good
The Hockey Lovers Club at Jagraon is happy with the coverage of World Cup Hockey events that recently concluded at Holland. The column “Free Hit” written by former captain Rajpal Singh was a masterstroke. With news pertaining to hockey almost vanishing from most newspapers, it is appreciable that The Tribune covered important information, including the schedules of matches, in a very systematic way. It is another story that our team did not fare well. Hope it does better the next time. Dr Balraj Singh Gill, Jagraon
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