3/1/2015

Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Arun Jaitley - The Economic Times

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ByPTI|20Apr,2014,09.42PMIST

Congresshaddecidedtoname
Makenasthenewchiefofthe
partyunitinDelhiwhereCongress
sufferedawipeoutinthelast
assemblypolls.

READMOREONVajpayeegovernment|networth|NationalTaxFund|lead|Insurability|IncomeTax|Congress

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Budget'sInfraPush

26,480.0

RaiseITslabfromRs2lakhtoRs5
lakh,demandsArunJaitley

Politics/Nation

SPOTLIGHT

GOLD(MCX)(Rs/10g.)

57.25

AMRITSAR:BJPleaderArunJaitleytoday
demandedaraiseintheIncomeTaxceiling
fromRstwolakhtoRsfivelakh,whichhe
claimedwillbenefitthirtymillionpeople.

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2
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25

Advocatinglowtaxstructure,theBJP
leadersaid,"DirectTaxshouldbereduced.
BudgetCheersforCommonMan
StartupsCheer
MakeinIndia
IftheIncomeTaxlimitisraisedfromRs2
lakhstoRs5lakhs,3crorepeoplewill
saveRs24crorewhichwillleadtoasmall
impactof1to1.5percentofNationalTax
JaitleyclaimedthattheVajpayeegovernmentkepttherateof
Fund."
interestat7to8percentwhichCongressledUPAraisedto

PostYour
Comment

1314percent.

Road,airport,greenenergy
projectsgetthumbsup

JaitleyclaimedthattheVajpayee
governmentkepttherateofinterestat7to
8percentwhichCongressledUPAraised
to1314percent.

ETSPECIAL: What'sbuzzinghotonBudget
2015?Checkoutourindepth
coverage

Budget2015:Toptakeaways
forthecommonman

GovtsetsasideRs1000crto
helpincubatestartups

Indiatobeamfghubwit
'MakeinIndia':Jaitley

Infrastructureispoisedtotakeagiantleap
astheBudgetpromisesrapidconstruction
ofhighways,ports,renewableenergy

"Duetothis,TradeandIndustryare
FMJaitleyinhisbudgetspeechannounced
FinanceMinisterArunJaitleysaidinUnion ArunJaitley'sbudgetispackedwi
runningunderlossandclosingdown,andproductionhasbecomecostly,"hesaid,
aslewoftaxmeasuresandpersonal
Budget2015thattheSETUprogramwill
proposalsthatareexpectedtohel
savingsschemesaimedatbenefitingthe
adding,thatiswhycountrylikeChinaandThailandaremovingaheadofIndia.
aimtocreateoveralakhjobsandincrease manufacturingunitscutcostsasw

projects&airports.

taxpayerandcommonman.

governmentrevenue.

accesscreditandskilledmanpow

Budgetpromisestoweedoutdelaysand
corruptioninconstructionofroads
Budgetproposesplugandplaymodel
forbigticketinfrastructureprojects

AamaadmigainsasFMmakessuper
Startuppushwelcomebut
Budget2015anaudaciousbidt
Jaitleysaid,"thesavingsofRs24croreinthepocketsofordinarypersonbyreducing
richtaxpayersshelloutmore
implementationremainskey:KunalBahl
kickstartgrowth:KMBirla
ceilingonIncomeTaxwillleadtoincreasedpurchasewhichinturnwillleadtoincreased
Budget2015:Sevenmeasuresthatwill
Budget2015:MoreHNIstohitchstartup
Bizwillgetanopportunitytorop
makethetaxpayerhappy
VATandExciseDutytherebyincreasingtheRevenue".
rideaftertaxclarity
youngIndia:BhavishAggarwal

SpeakingonAmritsar'sdevelopment,JaitleysaidEconomyoftheconstituencyis
dependentontouristsandsmallbusinesses.
Most
Read

Most
Shared

Most
Commented

Delhipolls2015:AAPlikelytowalkawaywith36
40seatswhileBJPcouldwin2832,findssurvey

HeemphasisedthatwiththeinvestmentofRs300400crores,23elevatedroads,better
roadswithconstructionof1012newbridgestogetherwithprovisionforfewconcessions
andgrantstoincreasetourismbyprovidingspecialtaxconcessionstohotelsthe
economyofAmritsarcanbestrengthened.

Highlights:Budget201516
Budget2015:Toptakeawaysforthecommonman
Budget2015mayproposesignificantchangesin
incometaxandcorporatetaxstructures,boost
savings
Whyyoushouldacceptthenextjobofferfroma
startup

AlongwiththisspecialattractionofGoldenTemple,DurgiyanaTemple,WaghaBorder,
improvementinspecialisedfoodsofAmritsarwillattractmoretouristsandallround
effortswillbemadetoincreasetheirnumbersfrom1lakhperdayto23lakhperday.
Itwillbeensuredthattouristwhostayforonenightstayherefor34nights.

http://economictimes.indiatimes.com/news/politics-and-nation/raise-it-slab-from-rs-2-lakh-to-rs-5-lakh-demands-arun-jaitley/articleshow/34013531.cms?intenttarget=

1/6

3/1/2015

Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Arun Jaitley - The Economic Times

NewsinPics

2/20

Budget2015:What'scheaperand
dearerforconsumers

Jaitleysaid,"Idonotbelieveinthepoliticsofallegationsandcounterallegationsinpolitics
butIcanassurethepeopleofAmritsarthatIamvotedtopower.
"IwilltakecareofeachandeveryproblemofGuruKiNagriandensurethatreleaseof
fundsfromDelhiisnotaproblemforthedevelopmentofAmritsar".

Recommend 4,719 people recommend this. Be the first of your

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Vijay (India)
21Hoursago

thanksforstickingtoyourwordsMr.Financeminister!!

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BobbiKristinaBrownstillincoma

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PrajsoonC (Blr)
91Followers
MonApr21201423:26:00

RaisingtheITslabwillbealwayshelpfultowholeworkingclass!andthisshouldbeinthe

Agree(2)

http://economictimes.indiatimes.com/news/politics-and-nation/raise-it-slab-from-rs-2-lakh-to-rs-5-lakh-demands-arun-jaitley/articleshow/34013531.cms?intenttarget=

2/6

3/1/2015

Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Arun Jaitley - The Economic Times
Disagree(0)

mainagendaofthenewgovernment!

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Offensive

PrajsoonC (Blr)
91Followers
MonApr21201423:25:00

Inlast5yearstheinflationisveryhighbuttheincometoindividualshavenotraisedlike

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that!!

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AtalPensionYojanatobelaunched:
FM

Rohan (India)
103Followers
MonApr21201411:15:00

Platinum:17.3K
Agree(2)

instead,exemptDAfromIT,toenablewageearnerstocopewitheverrisinginflation.

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AtalPension
Yojanatobe
launched:FM

Transport
allowance
exemption
increased...

UnionBudget
2015:Arun
Jaitleyonservi...
MOREFROMVIDEOS

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SLoganathan (Chennai)RepliesToPrajsoonC
ThuJul10201420:40:00
Agree(11)

UnfortunatelyMr.Jaitlyhasforgottenwhathesaidabouttwomonths
ago

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PM (S)
12Followers
MonApr21201410:21:00

Platinum:27K
Agree(1)

These3croretaxpayerspayjustRs24croretax?Thatmeanseachtaxpayerpays
average8rupees?Doubtfulfigures:(Andallthiswhiletalkingofbroadeningthetaxbase.

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VishalSingh (Pune)
100Followers
MonApr21201400:50:00

Agree(0)

EveryoneshouldvoteforNOTA,newruleorprobablypresidentruleshouldcomeinto
existence..Partiesareformedforthegainofpowerandmoney,whichgetinvolvedina
wholesomeofunwantedactivitiesforthesame..Wepoorpeoplegetaffectedbetween
thesepoliticaldramas..

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Sahebrao (Pune)
MonApr21201400:47:00
Agree(1)

Assumethat,BJP/NDAgetsmajorityin2014loksabhaelectionandwillbeinpowerfor
next5years.Inthatcase,thisisthebesttoolyouwouldcreateduringnext5yeartenure
ofBJP/NDA.StartincreasingthisITslabduringnext5yearsandresultantofthiswillbeof
gettingextensionofnext5year.So,keepthisBRAMHASTRAinyourweaponry.

NandlalChawla (Mumbai)
33Followers
MonApr21201400:42:00

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Gold:6624
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AmritsariswillhaveagoodtimeifJaitelykeepsallhispromisesandITbenefitwillbefor
allIndians.LetusnowwaittoseewhatAmrinderSinghisabletopromise.

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AsfarHussain (India)
90Followers
MonApr21201400:34:00

Platinum:22.8K

insteadofreducingtaxesheshouldaskhisfuturePMtogivegovtservantaccordingto
market,ifpvtschoolteachergets7000anddobetterworksthenwhygovtpaying30,000
toagovtteacher?

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http://economictimes.indiatimes.com/news/politics-and-nation/raise-it-slab-from-rs-2-lakh-to-rs-5-lakh-demands-arun-jaitley/articleshow/34013531.cms?intenttarget=

3/6

3/1/2015

Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Arun Jaitley - The Economic Times
Prasad (Rajahmundry)
47Followers

MonApr21201400:03:00

Gold:9030
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Whomheisdemanding?

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AshokGupta (India)
95Followers

SunApr20201423:57:00

Gold:6927

TheslabforincomeTaxpayerscertainlyneedsrevision/MinmumExemtionLimitalso

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mustberaisedtoFiveLakhs.

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PranayiniPattanaik (Angul)
46Followers
SunApr20201423:52:00

Gold:5683
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Donttellthethingwhichyoucannotimpliment.

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PM (K)RepliesToAsfarHussain
12Followers
MonApr21201410:25:00

Platinum:27K
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YouneedtounderstandthatagovernmentemployeehastopayEMIs
forloantakentobribewhilegettingthejob.So,insteadofreducing
salariestothelevelofprivateteachers,weshoulddemandthat
governmentschoolteachers'salaryincrementbetiedtotheresultof
students.

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SokheyMobile (Unknown)
17Followers
SunApr20201423:49:00

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Muchsoughtafterthingforsalariedpeople..

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FaltuBaat (America)
SunApr20201423:43:00
Agree(1)

MostoftheservicestaxesimposedonindianswerestartedduringNDAregime,orservice
taxesitselfwerestartedbyNDA??IfnowyouraiseincometaxslabGodaloneknowshow
manynewtaxesyoumayimposeonus.

AbhijitIndian (Mumbai,India)
19Followers
SunApr20201423:26:00

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WHathappenedtoMrBJP'srevolutionaryplantoreplacecurrenttaxeswithtransaction
basedtax?Nevermind,politiciansarethelastresortofscoundrels..shortmemoriesand
extremelythickskinned,therememberusonlyjustbeforetheelections

RajivAgrawal (London)
121Followers
SunApr20201423:05:00

Silver:3558

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Platinum:21.2K

letsseeiftheyrabletoimplementitwhentheyrinpower...

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SomnathDasGupta (Calcutta)
122Followers
SunApr20201422:28:00

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http://economictimes.indiatimes.com/news/politics-and-nation/raise-it-slab-from-rs-2-lakh-to-rs-5-lakh-demands-arun-jaitley/articleshow/34013531.cms?intenttarget=

4/6

3/1/2015

Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Arun Jaitley - The Economic Times
5

Mr.Jaitley,insteadofdoingsuchcosmeticchanges,makearevolutionarychangei.e.do

Agree(0)

awaywithITandinsteadintroduceexpendituretax(ET)asETisfair/equitableandmost

Disagree(0)

importantlybroadbasesthetaxbase.ThemostimportantlogicbehindETisthatone

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Offensive

paystaxaccordingtohisspend.AndETshouldbeleviedonlyatthepointofretaili.e.
saleofafinalconsumableproduct/servicetotheendcustomer.Forthetaxationof
intermediateproductsandserviceswhichgoontomakeafinishedproductorservice,
thereshouldbeamechanismofVATi.edoingawaywithcumbersomeExcise/ST/Octroi
etc.ButawelldefinedformulaforsharingofVATbetweentheCentreandtheStates
shouldbeformulatedandinstituted.Henceweendupwithjustonekindoftaxforboth
DirectTax(ET)andIndirectTax(VAT)whichspreadsthetaxnetwideandfair.
Administrationbecomessimple.

AshokGupta (India)RepliesToFaltuBaat
95Followers
SunApr20201423:54:00

Gold:6927

InitialServicetaxforonlyforspecialservices.NowUnderUPAGovt

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everyitemcomesunderServiceTaxbarringfew.Thishaseffectedthe
commonmanthemost.

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RajeshPanda (Pune)
50Followers
SunApr20201422:15:00

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Gold:9358
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DearSir,Pleaseimplementthisifyouarecomingtopower.Itwillbeagreathelpforallof
us.

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AshokGupta (India)RepliesToAbhijitIndian
95Followers
SunApr20201423:55:00

Gold:6927
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TransactionTaxdoesnotappeartobepracticable.

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AbhijitIndianRepliesToAshokGupta
19Followers
MonApr21201408:10:00

Silver:3558
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Agree...IbelievetheimportantthingforIndiaistobroadenthetax
base

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AshokGuptaRepliesToAbhijitIndian
95Followers
MonApr21201412:24:00

Gold:6927

Taxbasecertainlyneedstobebroaden.Butfirstthingshould
be1)'ExemptionLimitshouldgoupfromTwolakhstoFive
Lakhs'.***2)Stoptaxingincomethroughinterestsonsavingsin
Banks,becausealreadythemoneyinsavingaccountsis
gettingdevalued/depreciatedbecauseofhighinflationand
muchlessrateofInterests.**thisbecomesallthemore
importantiftheGovtwantstoincreasesmallsavings.**Upper
IncomeGroupsshouldbetaxedhigher.***Andontopofit,Keep
astrongcheckonTaxEvasion.***Moneyscamsshouldnot
happen.***

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Iyer (India)
SunApr20201422:00:00

Yes.Welldone.Iwillholdyoutoyourwords,Jaitleyji!Afterall,youaregoingtobethe
nextFinanceMinister.Keepitat5lakhs.YashwantSinhamentionedtheidentical
thresholdthroughtheStandingCommittee.EvenJayalalithahasmentioneditinher

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http://economictimes.indiatimes.com/news/politics-and-nation/raise-it-slab-from-rs-2-lakh-to-rs-5-lakh-demands-arun-jaitley/articleshow/34013531.cms?intenttarget=

5/6

3/1/2015

Raise IT slab from Rs 2 lakh to Rs 5 lakh, demands Arun Jaitley - The Economic Times
Offensive

manifesto.Givenhighinflationanddiminishingpurchasingpower,5lakhsexemption
wouldbefairtohardworkingpeoplewhodon'tcheatontheirtaxes.Pleaseimplement
this.Itwillkickstarttheeconomyinabigwaybyencouragingconsumerspending.

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http://economictimes.indiatimes.com/news/politics-and-nation/raise-it-slab-from-rs-2-lakh-to-rs-5-lakh-demands-arun-jaitley/articleshow/34013531.cms?intenttarget=

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