There comes a time in everybody's life when the topic on corruption in our country is raised in our conversation but if we see ourselves then we'll come to know that corruption always starts with us. The most corrupted area is every government department. You just go there and i can bet you can't have your work done in first time. Those govt. employees think that they are doing favor to us by working for us. If you go to any government servant, he'll recommend you another person to contact. Only one thing make them work quickly is bribe. If you are able to bribe them then they'll become your servant. But somewhere we are responsible for this because one of us is curious to get a govt. job and when we get it we adapt ourselves to the corrupted atmosphere of that department just because after spending few months we start thinking that if everyone here is working like this then why should we care of responsibilities, honesty etc. One such example is Dr.B.R.Ambedkar University and one of the most corrupted departments as well. Every single employee from peon to professors is irresponsible. They made the system of education worst. If once you got into the trap of this university then you'll find how illiterate and careless people they are. If you or your father name is Ramesh then some very intellectual person becomes astrologer and changes your name from Ramesh to Rasmesh on your mark-sheet. But if you are pretty lucky and you got your mark-sheet with right name then it'll be insult to them so don't think you gonna be lucky all the time because they have different latest techniques to prove that how much they care about you and will give you 112 marks out of 100. And if they are missing you like hell then just check your mark-sheet, you must be absent in any subject whether you've spent all 3 stressful hours and if you want to remove that absent then all you have to do is bribe them .. So this is how our education system works. But this is not enough because there is something essential which is related to each person's life, which we need many times in our life time and that is Doctor. Now-a-days many doctors have made this service a profession.. They don't even think that what they are doing would affect people’s life and especially the middle class ones. Today if a person gets ill and if he/she is not rich, so he/she has to think if it is better not to consult a doctor rather than spending money on doctors fees. There is such a doctor as well who charges double fee if patient takes more than 15 minutes of his time and he has mentioned it on his clinic's wall. Now you can imagine what they've made their profession. In a hospital there was a patient who died after few days and the expenditure was around 11 lacs and 10 lacs had been paid by the patient's family even then hospital's authorities didn't let that family take his dead body until they pay the rest of the amount. It seems as if the word "Humanity" has been vanished from their vocabulary.
There is another worst aspect of corruption is “politics”. I think everybody is quite aware of this shit. Politics is strongest part of every country and this sector has the power to lead our country to a well developed nation but our "Mahan" politicians are leading our country to well corrupted nation just because some of them want to buy properties for themselves in all over the world, some of them spends crores on their brood's marriages and rest of them want to fill their bank accounts by commonwealth games or anything like this. When the time of elections come they become a beggar from politician for votes and when they get that position then they make public to beg from them.
Wednesday, March 9, 2011
Tuesday, March 1, 2011
Important points of Union Budget 2011-12 (By Karan Arora)
Income Tax exemption limit for individuals has been raised from Rs 1.6 lakh to Rs 1.8 lakh, giving a relief of Rs 2000 to every tax payer, in the Budget for 2011-12 which widened the Service Tax net to cover more services that will raise the cost of air travel, hotel accommodation and those who drink in AC restaurants.
Presenting his third Budget in the Lok Sabha, Finance Minister Pranab Mukherjee preferred not to roll back central excise duty levels to November 2008 and kept it at 10 per cent while he levied a nominal one per cent central excise duty on 130 items that will enter the tax net.
Basic food and fuel items will continue to be exempted while the new levy will not apply to precious metals and stones. Jewellery made of gold, silver and precious metals sold under brand name would be covered by the new levy.
Minimum Alternate Tax on book profits of companies has been raised from 18 to 18.5 per cent and the lower rate of Excise Duty raised from 4 to 5 per cent.
Mukherjee's income tax sops included reducing eligibility age of senior citizens from 65 to 60 and enhancing the exemption limit for them from Rs 2.40 lakh to Rs 2.50 lakh. He also created a new category of 'Very Senior Citizens' of 80 years and above who will be eligible for a higher exemption limit of Rs 5 lakh.
The Minister estimated a net revenue loss of Rs 200 crore in the Budget. The proposal related to indirect taxes are estimated to result in a net revenue gain of Rs 11,300 crore, including Rs 4000 crore on Service Tax expansion, while the proposals on direct taxes are expected in a revenue loss of Rs 11,500 crore.
The Budget for next year pegs the fiscal deficit at 4.6 per cent of GDP for 2011-12 which works out to Rs 4,12,817 crore. Gross tax receipts are estimated at Rs 9,32,440 crore, an increase of 24.9 per cent over Budget estimates for 2010-11.
Net non-tax revenue receipts for the next financial year are estimated Rs 1,25,435 crore. The total expenditure proposed for 2011-12 is Rs 12,57,729 crore. Plan expenditure will be Rs 4,41,547 crore, an increase of 18 per cent and non-Plan expenditure will be Rs 8,16,182 crore, an increase of 10.9 per cent over Budget estimates of 2010-11.
Here are some major tax announcements:
1)Tax exemption limit raised to Rs 1.8 lakh, from Rs 1.60 lakh for individual tax papers.
2)For senior citizens, the qualifying age reduced to 60 years and exemption limit raised to Rs 2.50 lakh.
3)Citizens over 80 years to have exemption limit of Rs 5 lakh.
4)Surcharge for companies cut to 5 per cent, from 7.5 per cent.
5)A new revised income tax return form 'Sugam' to be introduced for small tax papers.
6)Service tax retained at 10 per cent; duty exemptions to be withdrawn on various items.
7)Net loss from direct tax proposals estimated at Rs 11,500 crore for the year.
8)Excise and customs duty proposals to result in the net gain of Rs 7,300 crore.
9)Standard rate of central excise (rpt) excise duty maintained at 10 per cent; No change in CENVAT rates.
10)Nominal one per cent central excise duty on 130 items entering the tax net. Basic food and fuel and precious stones, gold and silver jewellery will be exempted.
11)Peak rate of customs duty maintained at 10 per cent in view of the global economic situation.
12)Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent.
13)Service tax widened to cover hotel accommodation above Rs 1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests.
14)Service tax on air travel increased by Rs 50 for domestic travel and Rs 250 for international travel in economy class. On higher classes, it will be ten per cent flat.
Presenting his third Budget in the Lok Sabha, Finance Minister Pranab Mukherjee preferred not to roll back central excise duty levels to November 2008 and kept it at 10 per cent while he levied a nominal one per cent central excise duty on 130 items that will enter the tax net.
Basic food and fuel items will continue to be exempted while the new levy will not apply to precious metals and stones. Jewellery made of gold, silver and precious metals sold under brand name would be covered by the new levy.
Minimum Alternate Tax on book profits of companies has been raised from 18 to 18.5 per cent and the lower rate of Excise Duty raised from 4 to 5 per cent.
Mukherjee's income tax sops included reducing eligibility age of senior citizens from 65 to 60 and enhancing the exemption limit for them from Rs 2.40 lakh to Rs 2.50 lakh. He also created a new category of 'Very Senior Citizens' of 80 years and above who will be eligible for a higher exemption limit of Rs 5 lakh.
The Minister estimated a net revenue loss of Rs 200 crore in the Budget. The proposal related to indirect taxes are estimated to result in a net revenue gain of Rs 11,300 crore, including Rs 4000 crore on Service Tax expansion, while the proposals on direct taxes are expected in a revenue loss of Rs 11,500 crore.
The Budget for next year pegs the fiscal deficit at 4.6 per cent of GDP for 2011-12 which works out to Rs 4,12,817 crore. Gross tax receipts are estimated at Rs 9,32,440 crore, an increase of 24.9 per cent over Budget estimates for 2010-11.
Net non-tax revenue receipts for the next financial year are estimated Rs 1,25,435 crore. The total expenditure proposed for 2011-12 is Rs 12,57,729 crore. Plan expenditure will be Rs 4,41,547 crore, an increase of 18 per cent and non-Plan expenditure will be Rs 8,16,182 crore, an increase of 10.9 per cent over Budget estimates of 2010-11.
Here are some major tax announcements:
1)Tax exemption limit raised to Rs 1.8 lakh, from Rs 1.60 lakh for individual tax papers.
2)For senior citizens, the qualifying age reduced to 60 years and exemption limit raised to Rs 2.50 lakh.
3)Citizens over 80 years to have exemption limit of Rs 5 lakh.
4)Surcharge for companies cut to 5 per cent, from 7.5 per cent.
5)A new revised income tax return form 'Sugam' to be introduced for small tax papers.
6)Service tax retained at 10 per cent; duty exemptions to be withdrawn on various items.
7)Net loss from direct tax proposals estimated at Rs 11,500 crore for the year.
8)Excise and customs duty proposals to result in the net gain of Rs 7,300 crore.
9)Standard rate of central excise (rpt) excise duty maintained at 10 per cent; No change in CENVAT rates.
10)Nominal one per cent central excise duty on 130 items entering the tax net. Basic food and fuel and precious stones, gold and silver jewellery will be exempted.
11)Peak rate of customs duty maintained at 10 per cent in view of the global economic situation.
12)Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent.
13)Service tax widened to cover hotel accommodation above Rs 1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests.
14)Service tax on air travel increased by Rs 50 for domestic travel and Rs 250 for international travel in economy class. On higher classes, it will be ten per cent flat.
Subscribe to:
Posts (Atom)