Click to play videoNew Delhi: CNN-IBN’s Citizen Journalism initiative reached Finance Minister P Chidambaram’s doorstep on Friday.
Chidambaram accepted a petition from hundreds of people to re-examine five personal tax laws.
The petition was signed on www.ibnlive.com for CNN-IBN’s campaign Axe the Tax.
Finance Minister has promised to look into the appeal made by the CNN-IBN citizen journalists.
Taxes that are unfair, unjustified
- Taxing Holiday: LTA is taxable if you holiday abroad
- Fringe Benefit Law forces even small cos to pay tax on fringe benefits
- Bad Medicine: Rs 15,000 limit on medical expenses one can claim. If annual income exceeds Rs 2 lakh, treatment abroad is fully taxed
- Senior citizens with taxable income more than Rs 1,85,000 pay 20% tax
- Deduction up to 25% on house rent paid but with limit of Rs 2000/month
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