Tag Archive for Budget

admin | March 10, 2016
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EPF Roll Back /Budget 2016.Buying peace at a high cost

The roll back of the provisions of EPF Taxability , is a step much appreciated by one and all affected tax payers and tax experts.
But if we look at the reasons behind introducing this provisions, one would realise that it was anaborted attempt to plug a huge loophole.

The wealthy salaried employees were contributing the maximum amount possible under the rules , which is 12% of their slalries, without any cap.

All that was required to be done was to put a maximum limit of 150,000 on employee contribution as well. This could have met the good objective of plugging the loophole. In stead , a clumsy provision was drafted and explained in a vague manner, which resulted into sufficient confusion and uproars , leading to its pre matured abortion. The high flying executives have perhaps earned one more tax free gift , at least for one more year. Many will join their club , who have realised that they could also have made merry while the sun was shinnig unabated till now.

But in budget presentations, peace is required to be bought in favor of the vocal fews, anyway.

Category: Finances, Taxation | Tags: , ,
admin | March 2, 2016
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Lessons From A Union Budget !

A Union Budget in India is one of the most debated Subject. It is so healthy to note that the attention of the intellectuals is , at least temporarily, diverted to some issues faced by the nation . We need more and more of such debates and interactions with those who govern us .

No matter how strongly we criticize the Governments, it remains a fact that year after year, they do come out with the budgets where in the Actual performance is also compared with the originally budgeted and revised Estimates. May I know, how seriously this is being done even in the private and personal sectors ? My gut feel is, the private and family pwned businesses in India fall pitiably short of our expectations when it comes to budgeting and transparency .There are some good points to learn even from Public sector, which has strictly followed this tradition left by the much criticized British Raaj !

Category: Finances, General | Tags: ,
admin | February 26, 2016
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Expect A Booster Budget 2016

I wonder why we all should be worried about Budget 2016 ?
What Options do the FM has ? He has to come out with renewed promises, smartly use the words Development, Investor friendly, Agriculture, Rural Development, Health, Empowerment, Rurban, NAREGA ( perhaps a new name might be suggested ), Education etc . Than present a statistically consistent and correct numbers for the allocations to each sector. Reveal some further details that are absolutely necessary, like Fiscal Deficit, Revenue targets ..and not many more . And End with a poem or a quote , which is a bit catchy .
I am not ridiculing the massive efforts, but am trying to emphasis that do not expect a sea change when the goings are quite good . I would like to draw a special attention to the fact that the GOI exchequer , after meeting the revenue expenditures, will not and can not have any sizeable surplus. If the government wants to live upto its promises and expexctations. It must have judged the ability and possibility of its own set up to deliver the planned projects and implement the schemes. So What Can We Expect ?
Naturally an investor friendly, corporate friendly , tax payer ( the Savers) friendly, FII friendly, Multi national friendly budget to invest in the economy .It will have to give SOPS to local industries, Start Ups ,the Rural and Rurban Dwellers nad the Common Man .

So it is elementary my dear friends, if there is even a common sense wisdom, the FM will present a budget that will be a booster doze for the economy with a lot of energy which is being wasted.

Category: Uncategorized | Tags: , ,