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The interest paid on education loan can be claimed as deduction only for the first eight years. The government should extend this tenure to 12 years or more to ease the EMI burden.
This tenure has remained unchanged since 2006 whereas tuition fees of top B-schools has risen sharply since.
Extend tax holiday for startups to 5 yrs The tax holiday of three years, currently accorded to startups under the Central government’s Startup India Scheme, to be raised to five years because that is the time a startup usually takes to stabilise itself.
I also want the number of government-sponsored incubators and accelerators in metro cities to be raised and taken to lesser known private colleges.
They say that companies pay taxes and pay dividends out of post-tax profits, so it is unfair to tax this dividend again when it reaches the taxpayer.
While the government needs to review the dividend distribution tax on mutual funds, doing away with dividend tax on corporates may not be feasible.
It could become a permanent retirement account from which investments across multiple asset classes can be made annually.
If their basic exemption is hiked by Rs 50,000, roughly Rs 75,000 crore will escape the tax net, resulting in a tax loss of Rs 3,750 crore (5% of the amount).Extend tenure of tax breaks on education loans An MBA degree can set you back by Rs 25-30 lakh.This cost will only increase, making it difficult for anyone to fund their higher education without a loan.Even if limit is hiked by Rs 50,000 and only one crore taxpayers avail of it, a gigantic Rs 50,000 crore will escape tax net.There could be an increase in standard deduction from Rs 40,000 to Rs 50,000.