What do you expect from Budget 2012/13?

By Reuters Staff
February 23, 2012

Finance Minister Pranab Mukherjee will present the annual budget in parliament on March 16.

The Direct Taxes Code (DTC) will be in focus this year. Individuals will seek more clarity on income tax slabs and the investment instruments eligible for tax exemptions. Options like tax-saving funds (ELSS) may no longer be eligible for tax breaks going ahead.

Reuters India¬†asks its readers to don the finance minister’s cap and tell us what shape they would give to the¬†budget.

What is your budget wishlist for this year? What should the income tax slabs look like? Which investment products should be added or removed from the exemption list?

Register below to post your comment.

Comments

if we can reduce defence expenditure and agricultural subsidy may be the productive working class be done some good.alas the geography and politics cant make that happen

Posted by kapil1976 | Report as abusive
 

With housing market price rising, It would be good if tax break through 80C is changed from Rs1,00,000 to Rs2,00,000.

Posted by GoodCritic | Report as abusive
 

Remove all Tax exemption investments presently us/ 88
Increase the Minimum exemption limit to Rs. 5.00 lakhs
Over and above tax structure to be as:
Rs. 5-8lacs -Rate 10%
Rs. 8-15 lacs-Rate 20%
Rs. 15 & above Rate 30%

Posted by Sri69 | Report as abusive
 

make control prices of required or unnecessary goods and service like,
“Rice for 1KG = 35Rs or Any mobile sim card Rs1 = Rs30 talk time”. that directly affecting on middle or low class people.

Posted by SantoshB | Report as abusive
 

The service tax limit should be raised from Rs. 10 lakh per annum to at least Rs 15 lakh per annum. Small businesses see their clients erode.

Posted by dacca1971 | Report as abusive
 

All individuals who pay I.T. over Rs. one lakh should enjoy special govt privileges. Ex: special number plates, special cell numbers,etc.

Posted by dacca1971 | Report as abusive
 

The income tax slabs should be relaxed to say no tax till 2-3 lakhs. But the biggest thing i desire is that ELSS should stay in IT exemption. How will young people like me make money for future? Compulsive savings for future through ELSS can help in wealth creation. I wonder if NPS can do that.

Posted by aditya.kalra | Report as abusive
 

Why Pranab Babu is not bringing the black money to India? If he brings, then there will be no need of tax burden, fuel price hike, infrastructure of country. why not pranab babu is recovering the scam’s money from the politicians, instead taking out money from we hard-earned indians. Why not pranab babu pass a bill in Lok & Rajya Sabha to curtail the Petrol-Diesel usage of various Bureaucrats and Politicians? Dont you all think that he is a failure Finance Minister imposing forcefully various taxes on us, taking money from our pockets in terms of fuel price hike? Why not he instruct his department not to move vehicle here and there and stop the misuse as in China? Indians, Think over it.

Posted by SubirBhilai | Report as abusive
 

Pranab Babu, stop misusing Petrol & Diesel atleast in your Department. No need of heavy convoy when you are moving spending lot of fuels, and pressurising us to pay higher rate of fuels.

Posted by SubirBhilai | Report as abusive
 

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