I feel the individual tax rates be rationalsied in such a way that a person earning about 3.6 Lacs per annum has to pay about one month's salary towards tax before he makes any investments. The tax shall be reduced further in case of investments made as per prescribed limits. The existing level of investment is very low (Rs 1 Lac all combined) this should be up to Rs 5 Lacs with ceiling calculated as %age of the gross income (Say 40%. The corporate tax is about 33.66% right now this, i feel should be reduced to 30% or increased to 35% by doing away with FBT. FBT makes life difficult and has no logic. If the H'ble FM ha sto travel 250 days in a year he would understand that there is no benefit, the money comes through hardship and no body pays you for nothing. The cess may be separted at the end of teh exchequer instead of us making doing the unnecessary arithmatic. Last but not the lease can we the calander year as financial year!!
