Monday, February 28, 2005

Tax on Money Withdraw 10K.. to be at higher amount like 50K

I would say this would be make some sense if the amount starts from 50K or at least 25 K.. Any salaried people have to withdraw more than 10K for house rent, EB, etc.

In rural, people who withdraws his money will be hesitant to pay that. Please consider the hike the slab like 5OK in a day or atleast 25K..

10K limit is too less as we would do a shopping it all will be over. Also, it would be more of crushing the lower income section.. Even I withdraw 10K money, that again would be under VAT or any sale tax. How unanimosly it can be taken that 10K will be used in black!!!! If the amount is very high like in lacs then you can enforce this.

It is a good move but all the segement will be affected. This is my great concern. Hope atleast some strong feedbacks will be flowing to FM to review this..

2 comments:

Krish said...

I believe they'll withdraw this...let's see how does it go...

nksenthil said...

Withdrawing the whole scheme would not be a better idea.. atleast enforce on 1 L but.. FM must instruct all the Govt or non-govt org not to accept cash .... This is more need !!!!!