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Taluka Towns

Taluka Towns

Taluka Towns - what are they? Our definition of a Taluka Town (TT) is a town or inhabitation that lies in a semi urban setting of the country. A TT encompasses what is known as a Tier 3 and below town, census towns, rural agglomerations etc. We can safely say that a TT has a population of anywhere between 10,000 and 100,000, away from a large urban local body and has a lack of basic amenities and municipal services.

This lack of services leads people to leave these TT  and come and join the urban poor in the cities in search of both economic opportunity as well as basic services.

If we look at TT as an opportunity for developing a mini economic engine, a whole new economic revolution can be kick started.

Our game changing plan is based on the premises that providing housing units along with the corresponding municipal services can lead to an economic resurgence. This way not only will we solve a major demeaning headache but also generate multiple employment opportunities …

Indirect Taxes

INDIRECT  TAX  REFORM
Indirect taxes need to be reformed. Most businesses (especially MSMEs) are crippled by a poorly designed indirect tax regime. The situation today is that of reform in process. But the view from the MSMEs is that the reform process has slowed down.

GST

GST is here and is here to stay. Nothing wrong with that, every country in the world needs a good indirect tax system.

The question we have to ask ourselves - is our GST system good or can it be made better?

A major issue that creates discord is the ITC or Input Tax Credit. This issue can be solved by having an automatic invoice matching system. A simpler solution would be for every party to feed in sales invoices only. The system can then allot the ITC based on the customer's GSTIN. Sounds complex but in reality it's a simple software solution to an annoying issue. This was proposed in the original GST draft. Why was it removed or discarded?

Another change that can be made is to have an accrual system for or…

Direct Tax Code

DIRECT  TAX  CODE
A new Direct Tax Code (DTC). That is what the country needs, not tinkering with the old DTC. Majority of the citizens of India like to play fair and square. This DTC enables them to do that.
The main thrust of this DTC is a fair equitable taxation policy. There will always be a certain percent of the tax paying people who will try to game the system. That is inevitable. They are the ones who will need to be picked up via surveillance and made to comply with fairness. 
We propose the following Direct Tax Code.
For individuals.
Two taxes – income and wealth.
All income up to Rs 10 lakhs per annum is tax free. From Rs 10 lakh to Rs 1 crore, a flat 10% tax rate. Rs 1 crore and above is a flat 20%  tax rate. All exemptions are removed. Gains/losses on financial investments to be annualised and taken into account every year. Agricultural income (not revenue) to be taxed.
Wealth tax will be calculated on total assets held by the individual. For assets up to Rs 10 crores, no…