Tax breaks needed
Apropos ‘Personal tax regime needs some tweaks’ (July 9), it was almost a decade back when Section 80C deduction limit was capped at ₹1.5 lakh, while inflation has increased significantly since then. It is time the Finance Minister increased this limit to at least ₹4 lakh as also the Section 80CCD limit for NPS.
This will have a double impact. First, it will put more money in the hands of the people which will boost consumption. And, second, it will motivate individuals to invest more into ELSS and NPS, which in turn will generate better returns and create a bigger pool for their retirement. The rise in real estate prices has made housing unaffordable for the lower middle-class. An increase in Section 80C deduction can help ease the situation.
Bal Govind
Noida
Simplify filing of returns
Filing tax returns must be made a lot easier. A majority of tax filers either have to take the help of tax consultants or CAs which involves a further cost. They, in turn, ask for bank statements, Form 16, TDS deducted by banks, and what not.
Since all details are readily available why not directly demand the taxes to be paid by means of a pre-filled form. This will reduce the tensions of the taxpayer in computing personal tax liability.
Anthony Henriques
Mumbai
Training of workforce
This refers to ‘Labour pains’ (July 9). Labour is an area that has been badly neglected by successive governments. It was R Venkatraman who, as the Minister of Industries, paved the way for industrialising Tamil Nadu.
He created Industrial Estates like Guindy in Chennai. To feed the industries with a skilled workforce ITIs were set up to train the jobseekers to work in the newly established industries. Then came the system of apprenticeship and minimum wage, safety related legislation, etc.
But over a period of time such systems were given up and everything was left to market forces.
The government is largely to blame for not addressing the skilling needs of the workforce.
AG Rajmohan
Anantapur, AP
Legal services
Apropos ‘Why exempt lawyers from consumer law?’ (July 9), the apex court says that law as a profession is not commercial in nature and is a service-oriented. But lawyers as agents of their clients are bound to keep up a fiduciary relationship and liable to them for any lapses in their service which may cause a client’s defeat in a suit, resulting in loss of money and time. The prowess of the lawyer is vital to aptly counter the plaintiff as defence lawyer or to ensure the plaintiff’s victory. A client who loses a case due to wrong arguments is akin to a dissatisfied consumer. A relook of this verdict is a must.
NR Nagarajan
Sivakasi, TN
India-Russia ties
Prime Minister Narendra Modi’s two-day visit to Russia will fortify India’s relationship with the country. Economically, India gains a lot from Russia. Especially, it gets a boost for its energy and defence sectors. That said, India should have a good relationship with the US, too. One should not be oblivious to the fact that the dollar is a global reserve currency.
S Ramakrishnasayee
Chennai