As you are aware we are into the business of Hoteliering and Catering. In the past 3 years the tourism industry has faced many problems, like Worldwide Recession, 26/11, (Terrorist attack at Mumbai) Swine Flue and Regular Terrorist threats etc.
As far as the food commodities are concerned all over India, this has affected a lot to our industry. There was no control on the prices of commodities like Sugar, Rice, Wheat, Fruits & Vegetables, Milk and other Provision items etc. The prices have reached beyond our control. Our request to the Finance Minister dear Pranab Babu is to control and stablise the prices in the market in the coming budget. Also we heard that the Service Tax may increase to 12% + S.C. which are affecting our industry. This should remain at 10% + S.C.
We do not have any control on the State Government Taxes like VAT. (previously it was 12.5% now it is 14%). The local Municipal Taxes have also increased substantially.
OUR REQUEST TO FM IS TO STABLISE THE PRICES AND TAXES.
From:
B V J Rao
Financial Controller
1 comment:
Since introduction of 44AB and limit on cash payment in 1980s every thing has gone up multi times. Even the zero tax slab and tax savings have gone up many times. Cost of living has gone up and value of Rupee has come down. Hence the limit under 44AB & limit for cash exp may be increased at least 2.5 times that is 25L for proffession, 100L for Business and 50K for cash.
sivaraman
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