A Comment on New tax changes that apply from 1st June, 2016

My Comment on an article "4 tax decisions that will impact your pocket from tomorrow" published in the economictimes.com Dated 31/05/2016.


"It is some relief and some pain. The Krishi Kalyan cess of .5% added to Service Tax making it now a total of 15% and the new tax of 1% imposed on Cars costing above Rs.10 lacs with effect from 1st June are pinching to your pocket. 

Now, you should think over twice while going to purchase luxury cars, or while utilising services that attract service tax.

But, the withdrawal of tax on purchases of jewellery up to Rs.5 lacs is a relief to people who may have to buy jewellery for marriage purposes, etc. 

Further, the limit of PF withdrawals with no TDS has been raised from Rs.30,000 to Rs.50,000 wef. 1st June."

A Comment on Economic Survey's proposal to tax PPF interest withdrawals

My Comment on an article titled "Tax PPF returns at the time of withdrawal, says Economic Survey" published in the economictimes.com Dated 27/02/2016 at 10:50 pm. 


"Taxing interest earned is an injustice. 

Most people may not be having any other sources of income except these small savings schemes like PPF,Fixed Deposits,Time deposits and NSCs. 

Common man and retired people meet their regular monthly expenses from these incomes only. So, they should not be deprived of their bread by reducing their earnings. 

Government should realise this fact and should not heed to Economic Survey proposals."

A Comment on How to reduce your tax burden

My Comment on an article "How to slash your taxes by Half" published in the economictimes.com Dated 23/05/2015 at 3:25 pm.


"Very smart and good advice here by this author on cutting your tax liabilities. 

Ask your employer to reduce your special allowances and instead use that amount for paying contribution towards National Pension schemes and convert some of the allowance into monthly food coupons. 

Take the National Pension Scheme membership and put some money into your health Insurance policy, etc. which are not taxable. 

In this way you are able to save a lot of income-tax."

A Comment on Corporates owing Rs.2.46lakh crore in Taxes

My comment on an article published "Corporates owe over Rs. 2.46lakh crore in taxes" in the Economic Times dated 07/02/2014 at 5:23 pm.


"If this is the way of recovery, it may take another 200 years to recover full dues by which time fresh dues may pile up. 

More strict procedures to be adopted to recover these dues which is a great loss to our economy."

A Comment on An Article " Taxing The Rich More"

My Comment on an article in The Economic Times "Taxing The Rich More is Inefficient : Readers React" published on 17/02/2013 at 10:45 am.

  Taxing the affluent class with a higher rate is not a bad idea. If they try to adopt other tax saving practices like diverting money to FDI, FII or other methods let them do. These practices can ultimately lead to investments in industry which is good. So affluent can be taxed. Already there are three slabs in Income Tax rates. Modifying them and including another slab should be considered. The first slab of 10% tax may be increased to cover income ranging 2 lacs to 10 lacs. The second slab of 20% to cover 10 lacs to 20 lacs. Third slab of 30% to cover 20 lacs to 50 lacs. And one more slab of 40% to cover income above 50 lacs.

A Comment On Kejriwal's exposure of Swiss Bank Account Holders

My comment on an article of the Times of India dated 9/11/2012 at 5:40pm Your comment on the article ''Kejriwal targets Swiss bank account holders in 4th expose'' is now displayed on timesofindia.com.

''it's already a known fact that most prominent personalities of our country hold accounts in Swiss Bank. It has come to light many times previously also. But our Tax Department and government are unable to do anything noteworthy in this matter till now. I think all these accounts should be ceased till the Account holders declare their assets and pay the Tax.''

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Team TOI