RE:tax rebate
by ashutosh s on Mar 02, 2008 11:16 AM Permalink
follow the govt's example. donate all your money to some charitable trust for the welfare for farmers.
RE:tax rebate
by kangaroo on Mar 02, 2008 02:45 PM Permalink
impossible i being a farmer can tell a farmer can't earn so much. It seems to be black money
RE:tax rebate
by Vijay Lourdhu Nathan on Mar 02, 2008 12:37 PM Permalink
Hi Contact me thru mail avlnathan@gmail.com.I can give you a solution to your tax problem.
RE:tax rebate
by Fredy on Mar 02, 2008 11:25 AM Permalink
You can take a housing loan, you can fixed deposit in Public banks, you can take insurance, PF, RD, etc.. please check any article for saving IT.
Will the saving in PPF, LIC, NSC,FIXED DEPOSITS etc which we have done earlier will be also be included for calculating tax benefits or deductions from total income VINOD
RE:benefit of tax in 80 C &80 D
by Fredy on Mar 02, 2008 11:27 AM Permalink
The total amount will not deducted, but a percentage of the premium (I think 20%) will be deducted. Also upper limit is there (I think it is 1 lakh).
RE:benefit of tax in 80 C &80 D
by sachin sharma on Mar 02, 2008 12:25 PM Permalink
what ever saving done as mentioned in section 80C will be deducted from the taxable income along with PF deduction and Professional tax. remoe applicable HRA deduction and you have your net taxable income, check the table above and you have your tax for next year in your hands. Upperlimit or cap of 1 Lakh is there on 80C, there is another 15000 saving applicable through 80D (medical insurance premium), this could also be enhanced by section 10D (Home loan intest payable), upto 150000, so the possibility to save tax on taxable income of 265000 really is great.
RE:benefit of tax in 80 C &80 D
by Rajesh Pujara on Mar 02, 2008 04:08 PM Permalink
U can get additional rebate of 15k by using 80d for ur parents. Now total comes to 280000 rs.
RE:Tax system
by sachin sharma on Mar 02, 2008 12:26 PM Permalink
government does the same as you mentioned Mr. Dutta thats called TDS (tax deductible at source)
I have a lot of sympathy for the poor farmers who are compelled to do suicides. This budget will certainly help them. However when the Govt is spending such huge money on waivers, they should have made a well planned out strategy to make a process to dole this to farmers. While many farmers do commit suicides, there are many farmers in Chandigarh etc., where these farmers enjoy a very very affluent life style. Such affluent lifestyle is not accessible even to the best of salaried class. Such farmers also have easy access to huge loans from the banks and these loans will now be waived off. Do these farmers actually deserve these waiver..?? There are many farmers who actually dont take loans from the banks but rather take from the money lenders. This is a sizeable proportion of these poor farmers. How will this be tackled...There are numerous such things whch should have been tackled before doling out this generosity. After all, the Govt has the entire State machinery which should be brought to this use.
RE:Lioan Waiver by FM
by Fredy on Mar 02, 2008 10:53 AM Permalink
I appreciate FM for giving a waiver of loans for the farmers. This is a life saving policy of the govt. for many farmers. But as you said the beneficiary of this act will be relatively rich farmers who are going for investments in farming sector. As development oriented govt. policy this is acceptable and should be appreciated as this will give a boost to farming sector and more people will engage in farming. Farmer should not be a synonym for poverty.
Offcourse there should be a effective system for the farmers which will enable them to avoid any money lenders who charge high interest rate and other kind of exploitation. Farming sector is to be improved to get profit and a social status in society, otherwise in a short period we will be in a position to import food items just like Petrol now.
Hence a very effective system should be implemented in agriculture sector for helping the farmers in farming, hervesting and marketing of the products in a far better way to benefit the farmers. Hope the present govt. will initiate in this direction.
RE:Lioan Waiver by FM
by cnreddy on Mar 02, 2008 11:41 AM Permalink
I agree with you,but I have a very serious point,How much of this money is really going to go to the Farmers and how much into the pockets of these bloody beurocrats,politicians.There should be stringent Law to curb this and such people should be Hanged
RE:RE:Lioan Waiver by FM
by dexter on Mar 02, 2008 05:36 PM Permalink
what about the ones who payed loan??? it makes them a bunch of jokers..... next time when they take loans prefer to not pay and wait till it gets waived...
RE:Lioan Waiver by FM
by raj on Mar 02, 2008 10:42 AM Permalink
Govt is only waiving of loan of those farmers who have taken loan from organized sectors like Banks. For non organized sector like Village money Landers or Bania what is guaranty of the loan records, money was used for what purpose may be they distribute money Half- half after showing false records.
I am a software engineer but a farmer's son as well. So i know this in mauch detail. atually farmer's take small loan initially but with interests it goes on increasing. and after good harvesting also they don't return their loan and keep spending on other things.THis is general mentality of farmers. and after that in family everyone curses and he chooses not to live further. But mine father passed accindently now i am having 2-3 lakhs loan and in couple of years i have paid 1 lakh income tax. but i can't do anything in this case to pay loan and avaid incoem tax as i am not doing any farming now so only doing job. i already paid some loan last year and thsi year as well so i may not get any excemption in loan as now that loan renewed. my stake on this Budget is that though FM wavied it will not reduce any burden on farmers in vidarbha bencause they have more than 5 acres land and depend on rain. so they might not be lavied. and then this will go all the way to rich farmers as they have less land with sugarcane and grapes etc.
RE:@ farmer wavier
by Noushad on Mar 02, 2008 09:30 AM Permalink
Govt should make arrangements to provide interest-free loans to farmers to help them and no waiving the loans.
RE:@ farmer wavier
by dumbeldor on Mar 02, 2008 10:28 AM Permalink
Banks who provide loans should be involved in the sale of produce. If SBI gives a farmer loan, SBI maybe with NABARD should be the unit that is involved with purchase of his produce and sale, so as to recover some part of his loan.
Waiving of loans in election year will lead to complacent farmers who will take a loan and do nothing, hoping for a waiver every 5 years.
Furthermore, investments into rain harvesting and pipe based irrigation to fields will be cheaper than waiving off loans.
What message does this give to people n world....Loan defaulting is good practice ??
Farmers are already....given loans at low rates....why Wiev-offs ?
If you See reality....No Farmers get Loans....Such Farmer Loans are only given to Political people who Show farm lands to hide their Black money.......
This money will never reach poor farmer......All money will be eaten by corrupt Bank Employess, Govt Employess and Politicians.
Also more than 3 packages and lots of money (above Rs 2000 Crore) is been wasted on Minority for what?......Why are they been treated Specially.......Hipocracy of Congress.....such a Moraless/Howard Party.
Agreed Income tax of Salaried People is reduced but this was on the card n Expected....nothing to get too cheered about it. Overall its very poor budget....Shame to Congress.
Aam Admi should never Forgive Congress for this....throw them out from power......they will always remain hipocrats
RE:Vote against Congress - Rs 60,000 Crore farm Loans Wieved off is foolish
by Fredy on Mar 02, 2008 11:06 AM Permalink
I can see that this message came out of your anger against the popularity of Congress. According to you who is this Aam Admi.
If you think due to corruption this policy will not be benefited to farmers, then the govt. cannot bring any policy as there is corruption in all areas.
This budget is clearly meant for the poor people or the lower middle class only. Still you are against the budget in the name of poor people shows yours blindness of your Demag.
RE:Vote against Congress - Rs 60,000 Crore farm Loans Wieved off is foolish
by Sweeya Computer on Mar 02, 2008 03:30 PM Permalink
Friends,every year Govt. write-off farmers loan, better to say there is no other way to save farmers from unexpected natural calamity. This time Govt. declares amount at the budget, for eye wash a group of Voters. Its fact but 60,000 Crore in 3 years not a big and new. Every years all central Govt gave it. New thing this time at it comes in a well dressed Packet.
RE:RE:Vote against Congress - Rs 60,000 Crore farm Loans Wieved off is foolish
by vadakattu bhaskar on Mar 02, 2008 10:18 AM Permalink
Give your address to, if farmer doesnt get money, we will send him to you. You can pay for him.
RE:Vote against Congress - Rs 60,000 Crore farm Loans Wieved off is foolish
by Super star on Mar 02, 2008 10:27 AM Permalink
Loga, shame on you !! scorpio speaks out the truth and it seems to have burnt you !! bloody !! you are the corrupt !! get lost from India and goto pakistan
Good for congress,bad for country.This money wher does it comes?Is it chidambram's/manmohan's/sonia's/karat's/bardhan's father's family money?can you have the check system whether farmers lost crops /reason for that?we working class people's money you iddiates are wasting for you vote bank politics.we middile class people taking loan from bank by seeing jobs ok,but suddenly due to some problem (some time party politics of left partys is the reason for maxium clouser of the indiustry)company is closing,CAN YOU PROVIDE LOAN WAVING THERE?IF NOT WHY?.WE PEOPLE (MIDDILE CLASS PAY TAX.ALSO,BUT FARMERS NOT PAYING TAX ,EVEN IF THEY GET GOOD RESULT ALSO.)NOW WE ALSO WANT HELP FROM GOVERMENT.WHEN WE ARE WORKING WE ARE PAYING TAX.WHEN WE DONT HAVE THE WORK YOU HAVE TO TAKE OUR CARE OK.BECAUSE OF OUR MONEY YOU PEOPLE ARE PLAYING TRICKS INCLUDING SO CALLED LEFT /THIRD FRONT IDDIATES ALSO.
RE:loan waing
by Mahesh on Mar 02, 2008 11:48 AM Permalink
The govt. is not analysing the root cause. Simply waiving off is really foolish. They are not helping the farmers to improve the crops. This is surely an election stunt.
2008 is the best Budget in Indian History. FM Farm loan waiver is a very good move for India's progress. India Agriculture sectors accounted for 18.0% - 20.0% of the Indian GDP, and It employed 60% of the total Indian workforce.
It's good that PC has waived of loans for farmers. But it has raised so many questions 1) Those farmers who have paid the loans would feel cheated. 2) Loans waived of what next then? 3) Loans should not be given to those farmers again. 4) Now the farmers would think that Govt. will always take decision like this and take loans again.
Overall this is only political Budget. Congress is lost badly in Arunachal Pradesh and in Gujarat so they met Raj Thackeray and gave him money to seperate Marathis between Shivsena and MNS. Govt decided to give free electricity to Maharashtra Villagers, but what happened they got the free electricity but for 2 hours a day only. Most of the villagers now feel cheated and said that it was better earlier and even now also they are ready to pay the electricity bill. What happened to quota system? If Congress really want to help those backward people (Intentionally written) then why did they hike the feed os IMM from 4 lack to 7 lack. How will those poor people pay that even though they got admission via Quota? It is Congress past history which says that they have always played a foul game to get the Kursi. I think we all should throw away Congress and bring BJP in power. I am not a BJP supporter but BJP is far better then Congress.
RE:no more loan to those farmers
by srikanth sriram on Mar 02, 2008 09:47 AM Permalink
hi man! wat u have written is good "no more loans to those farmers". we have to cick off the congress..
RE:no more loan to those farmers
by Fredy on Mar 02, 2008 11:12 AM Permalink
If you support BJP means you want a biting Dog then the present barking Dog hihihihi..
If you express your objection against farmers, you should first think that where from your food is coming from ? Agriculture is the basic need of any country and without strong agriculture base a country cannot be stable. Be alert that you can not eat software and there is no programme developed for food production. When you deny a loan for a farmer you deny your right to eat. Please note that.
the next finance minister will be a poor fellow as the economy slows, revenue growth slows, new pay commission expenses comes into effect, oil prices going and govt. to provide bonds to help oil companies for subsidies
