BUDGET IDEAS FOR FY 2022-2023 My sincere thanks to our PM and FM for the initiatives for the welfare of Senior Citizens. Please bring the following measures in the Budget for FY 2022-2023. 1. Bring back Senior Citizen Concessions in Railway Tickets. 2. Increase the Income Tax Basic Exemption Limit for Senior Citizens from Rs.3.00 Lakhs to Rs.3.50 Lakhs. 3. Increase the maximum Investment Limit for the SCSS and PMVVY Schemes from the current cap of Rs.15 Lakhs to Rs.30 Lakhs in each scheme. 4. Rate of Interest in Senior Citizen Savings Scheme and other such schemes may be fixed at 8% Per Annum. 5. Income Tax 80TTB Deduction amount may be increased from Rs.50,000/- to Rs.1,00,000/- for Senior Citizens. Thanks

Those individuals who earn an income upto ₹500000 are not required to pay any tax. However, those who earn ₹500001 are required to pay a tax. And that tax is much higher than the increase in the income over ₹500000. There is no marginal relief to these taxpayers, like the one being available for surcharge and cess. A request is that in case of any such rebate, the tax on those who cross such income limits should not be higher than the quantum of income above the limit. One more humble request is to increase the basic taxation limit itself to ₹500000. It will ensure that a large number of people will get a tax relief. The additional conditions to file tax returns can be used to ensure that their tax returns are filled. Even otherwise, the wealth of information available today, as is evident from the Annual Information Statement, is sufficient enough to track and ensure people do file returns of they earn taxable income. A rejig of the tax slabs linked to an index is required too.

Please help the salaried class by increasing the avenues for tax savings. The current salaried class pays 30 percent tax while corporates pay 22 percent tax. Request help for the following: 1) Increasing the limit for VPF to be saved for salaried employees 2) Increase of limit of PF+VPF+NPS for employer contribution beyond 7,50,000 3) Increase limit of PPF 4) Please help reduce the insurance burden on salaried class by helping provide us with the option to opt for PM Ayushman scheme for insurance

From, Pralhad Joshi Union Minister for Parliamentary Affairs, Coal and Mines, GoI To, Hon'ble Prime Minister, GoI Sub: Suggestions and ideas for the fourth covering Budget – 22 The following suggestions and views expressed and received from financial experts and general public are forwarded herewith for needful actions in the matter. (Suggestions are enclosed and also PDF file is herewith)

DEAR SIR, SME ARE NOT GOING WELL AND THIS FINANCIAL YEAR WE HAVE EXPORTED MORE AND IMPORT ALSO INCREASING THIS IS DUE TO COMPETITOR WHATS TO INDIAN PRODUCT MUST BE MORE EXPENSIVE IN FOREIGN MARKET BECAUSE THERE IS AN DEMAND FOR MORE INDIAN GOODS AS OF NOW AS COMPARED TO COMPETITOR GOODS AND SERVICES. IT MEANS COMPETITOR WANTS TO KILL TWO BRIDS WITH ONE STONE. FIRST IN SHORT TERM WE ARE THE GAINERS AND WHEN OUR GOODS AND SERVICES ONCE COSTER IN INTERNATIONAL MARKET THEN THE COMPANY WHICH ARE EXPANDING FOR THERE GOODS AND SERVICES THERE WILL BE NO DEMANDS AS WE ARE IMPORTING FOR BECAUSE WE NEED TO EXPORT FASTER DUE TO DEMAND IN INTERNATIONAL MARKET EXCLUDING THE DOMESTIC MARKET. ANTI DUMPING IS TEMPORARY SOLUTION WE NEED TO BE VOCAL FOR LOCAL. WE NEED TO FOCUS ON INDIAN MARKET & MAKE THEM STRONGER ELSE IN LONG RUN WE ARE GOING TO BE LOOSER THEN COMPETITOR WILL BE TAKE AN ADVANTAGE. WE NEED TO HAVE EQUILIBRIUM POINT PLEASE DO NOT EXPORT MORE NOW MAKE DOMESTIC MARKET STRONGER TO BOOST SME.

Add Bangalore in list of metro city for HRA calculation (income tax) currently only Delhi, Kolkata, Chennai, Mumbai is considered as metro city. Bangalore also have very high cost for rented house, and salaried person are bearing this cost.. just because they are in Bangalore not in Kolkata or Chennai but rent cost is more than these cities.

Pension and Health Insurance Who pay more than Rs 100000 TAX in year they should be liable for pension and health insurance which is provided by government.

As per IT Section 194A, the interest income on FD/RD up to Rs 50,000 is exempted from charging TDS, for senior citizens whereas the dividend income up to meager Rs 5000 only is exempted from charging TDS, for all (including senior citizens), under IT Section 194. A person invests in FD/RD and earns his income through its interest, to neutralize the adverse effect of inflation on him. Similarly, another person who does not invests in FD/RD and alternatively invests in the shares, for the same purpose but is illogically/unjustifiably given TDS exemption of Rs 5000 only, in comparison to his former corresponding person, getting TDS exemption of Rs 50000. It is a great injustice to him hence he should also be given TDS exemption of Rs 50000, on his dividend income from his investment in shares.

Taxation of Interest and Dividends : The idea to tax dividend in the hands of recipients is a welcome step, as it ensures that the tax incidence is linked to the earning level of each assessee. While the idea is welcome, it is causing a large bit of procedural hassle for the payers as well as the earners. Since interest and dividend are now taxable equally, i have a small request to restore an equivalent of the deduction under section 80L which was available erstwhile. Section 80TTA offers deductions on saving account interest upto ₹10000 - similarly for senior citizens upto ₹50000 u/s 80TTB. I suggest that this deduction be expanded both in amount and scope to cover all types of interest and dividend upto 50000 (₹100000 if senior citizen) per assessee. This will give a huge relief in tax compliance for people who rely on investment earnings. Accordingly, the interest / dividend limit for TDS can be expanded to ₹10000 per annum. Those who earn higher amts can pay advance tax.

Suggestions Pertaining to Persons with Disabilities for Consideration of the Government of India for Union Budget 2022-23 by A S Narayanan