Wow...great plan of BJP's election manifesto....People of India would wholeheartedly welcome this move of BJP and bless them in 2014 Lok Sabha election..Reducing petrol/diesel price, abolition of Income Tax and Service Tax!..what a brilliant idea Sir ji.... BJP will cross 270 plus and Congress will shrunk to below 50 if BJP proposes in Manifesto....more power to NaMo brigade. if this proposal is in BJP manifesto, I will order my wife to vote for BJP, if no i will divorce her

Don't divorce your wife...try to understand and convince her..she will also vote if knowing BJP's plans on reduction of taxes in cooking Gas, petrol...

I'm a male myself. I agree all except, who are you to "order" your wife? You better divorce her she deserves a better man!

Looks like you do the same way congress do.Marry & Divorce game - Marry SP,DMK and divorce them taking support from BSP ......

This is is most sought relief to the service class. We have reasons to believe that there are many innovative methods,techniques and areas to make funds available for the development of the country than taxing a particular class heavily and making subsidy available to other and their cost. On many occasions the tax payer itself become the victim. This will also reduce Inspector raj . All the best to BJP and it's think tank.

why is not BJP making a big publicity of these good measures ? They[BJP] are always winking at a girl in the dark. They fail to create the impact they deserve.

Swamy is incharge of the Economic reforms section of the BJP 2014 election manifesto. it is his idea to do away with the income tax. once the manifesto is complete it will be launched.

I dont thik its official yet...I bet once it becomes official NaMo might officially announce that....

He has already hinted at latest Congress Jayenti Tax.
As soon as her other Tax for bribes for jobs was exposed by her agents family who wanted to immolate themselves as protest for Jayenti to refund the bribe; the congress distanced the party and sacked her.
All the HUNDREDS OF FILES SHE HELD UP IN HER DEPARTMENT which had not moved due to non receipt of JAYENTI tax got clearance within a week.

I thought she got big A** ...she can keep as any files under or inside her....without any issue.....lol

We will be freed from Chartered Accountants and ST and IT goons

this will be a game changer..so that middle class people will come out and vote to BJP at any cost. and we can put out Congress+Allies(including pAAP)..yes this will be implemented but not in stratight way..may be 2-3 years after...need to check all alternatvies.. need to abolish 500 & 1000 notes straight away...get black money ASAP...

yes thats right it would take 3 yrs ! GST will also come to force which is long pending !

Sorry but why the 500 and 1000 should be abolished?.. I am just wondering what is the impact of this?

To unearth the black money. Most of the black money is in India. That needs to come out. Needless to be said they are in 500s and 1000s. So once we abolish it, all local money will have to come out and be deposited somewhere in the bank. Also one cant use these notes for bribing or black money. If a person has to give a bribe of a crore, he has to take some 100 bundles of 100 rupee note which wont be that easy

It is 1000 bundles for a crore. You got your maths wrong

Thanks for the correction

Kudos to Dr. Swamy and his team who chalked out this plan. A real economic booster and relief to Common Man at the same time.

I would request you to utilize this as much as possible, this is going to change the face of India and Indian Economics , one of the most reformist ideas. Great and all the best.

Really it will change India 's shape.... Such a stupid idea like nursery kids and there are people to support as well.... NaMo will never agree it if he knows fundamentals.

I find it hilarious when people criticise this scheme and then praise AAP's unsustainable free bijli-paani schemes which also have the potential to bankrupt the government.

i am not sure how you are comparing hundreds of crores with lakhs of crores.

This could be a game changer and really mean it. BJP comes across as a party with a plan and fiscal discipline...they must make this a part of their manifesto

All Hail Narendra Modi

EXCELLENT INDEED! BUT WILL BJP HAVE THE POLITICAL WILL TO DO IT? YES,CERTAINLY IF MODI IS VOTED TO POWER WITH A THUMPING MAJORITY!!

During his last tenure also Mr.Swamy told of abolishing income tax, but not done anything at that direction. Like Globalisation opening up our doors for foreigners, abolishing this tax will open-up ourselves, which I'm sure the benefits will reach the poorest also.

which tenure r u talking about VP SINGH government........

It should become official

Bank Transaction Tax is a very retrograde step and will heavily penalize traders. If there is 2% tax on transactions and you are trading with 4% margin, it amounts to a 50% tax on income.

It must be understood that human prosperity is based on specialization and trade. If we all have to grow our own food, make our own shoes, build our own houses etc, then our standard of living would be quite low, like "Robinson Crusoe". Trade is what enables us to live in a modern way. Putting a heavy tax on trade will depress the entire economy.

In the present information age, the trend is towards increased trading, with very low overhead cost for each transaction. Putting a tax on transactions is like putting sand in the engine oil of a car.

Furthermore, this tax will also incentivize people to use gold and other less optimal mediums of exchange.

I dont agree....u know how much sales tax traders are charging?...5% to 14.5%..there will be no sales tax also....traders will charge only 2% to customers.....they will not loose anything...but customer will also get products at lower price...

And there will be no Jayenti tax in the Environment Department.

Soniaji charges 12% Transaction Tax on all Military hardware deals for Indian Military.
That's how; never having had a paid Job, the Italian Mafiosi has become fourth richest woman in the world. Now has 2670 Billion dollars.
Transaction Tax can't be all that bad.

If you abolish "income" tax, introduction of "expenditure" tax is a must to compensate.

consumption/expenditure tax is to be proposed, which will enable every citizen to pay tax as per their expenditure. But abolition of service tax will bring down prices of different commodities specially petrol/diesel, hence food-grains and other consumables....

Agree, but with deductions for essential basic expenditure

Interesting that there are 15 countries that do not impose taxes on individuals. Which are they?

Yes this will have positive impact on voters and overwhelming response... But it will reduce govt income and increase unemployment since 2 dept ultimately close down in long run... so BJP should attract more industrial development, tourist development to cope with unemployment... BJP with better alternative plan goes in the election in 2014... their win is certain and even AAP cannot harm anyway...

when consumption tax is in place, its coverage would be around more 3 times of what IT is ! so no fall in revenue at all but in fact it would increase...!

We need leaders who can think about what will be India's state in teh next 5, 10, 15.. years. A vision statement should not just draw a picture, it should have a work flow to acieve the aims. This abolition, if implemented, should also include how to tell the people not to incur wasteful expenditure, with the extra money in hand. Hope they have a plan. If they do and is implemented with continuous communication to the public, then yes Go For It !

Income tax and service tax is one who hurt Aam admi and also torturing department with corrupt power. I want to convey one massage to those who are opposing this on the name of possibility. Please be open, income tax and service tax are not given by nature and God but one kind of policy implemented by us and we are following it. For example EC was conducting election with ballot paper and now with machine and printer added, it is a success. Earlier army had sword and lethal weapons and now we have agni and tanks etc. earlier people were traveling on bullock cart now on aircraft. So development and new ideas replaces the bad one and old one except spiritual knowledge which is eternal. Externally every thing is changing even new decease are appearing and old one is having solution by medical advancement. So believe in development and progress and mind every thing is possible. Jai Hind.

great !!!!!!!!!!!!
WE ARE WITH YOU .

brilliant

Stupid idea. How India will get money for development projects? Income tax in India is less compared most of developing countries. If bank transfer is making as taxable, black money will rule India and it will become like Pakistan.
Instead of abolishing tax, manage and increase the number of tax payers. Stop corruption

Income tax is a Ripper Chacko model taxation. It is far from democratic view. It is colonial. All penal provisions are to be avoided. Income tax is an incentive for laziness and due to income tax alone parellel economy become stronger. Black money is stronger only due to income tax. IT and service tax both are stupid Acts and need to abolish India for ever. Instead of penalizing, reward system to be incorporated. Most of the argument for income tax is being carried out without knowing the intrinsic worth of the arguments. If the cost of proving security to all citizen in India be Rs 100000 crores, the number of people over 18 years be over 100 crores. The unit cost to be shared by each individual will be Rs 1000/ only. But if out of the 100 crores only 1 crores are working, others remains as lazy and haven't any capacity to pay Rs1000, this 1 crore people should bear the cost of laziness of 99 crores. In this occasion, each the employed will bhave to provide 100000 and they are to answer Income Tax authorities. What a pity and foolish idea?. If you are paying Rs 2.5 lakhs as taxes, that mean you are compensating 249 lazy people in India. It is a clear example fundamental mistake in revenue administration. It should be corrected. If there is no income tax, business units will have surplus cash and they go for rapid expansions and capacity buildingsresulting in to huge employment potential and also prevent brain drainage for ever. It is brilliant and highly recommendable stand by BJP.

Not talking much financially. Yes, tax payer should be rewarded and defaulters should be punished. A democratic country should include more people under tax bracket. Petro-economics does it to a certain extent. My opinion is, the tax payer should get benefits than others. IT is less in India compared to US, China and EU. Some of the EU countries takes 55% of your income as tax. Certainly, IT in India can be simplified.

I too write some literature for you; You should be proud being a tax payer and since you and I are typing the comment in a website, definitely, you are in the first 25% in Indian population. In India, there are more than 50 crore people who slept last night without dinner. Who has to take care of them? Govt.. Who is govt?? ..., you! You said many as lazy... Due to various govt policies and opportunities one person became a tax payer, otherwise you also would have been in a cattle field unless you are a gifted artist/ singer. Instead of lazy, we need to say them as unfortunate. If you want punish them, that is colonial.

The cost of
education is growing to a great extent now a days. Govt fails to provide
education at free of cost to all seekers. The high unjustifiable cost can be
reduced only through recognition of virtual classroom throughout India. It is
the need of the time to provide a standardized learning platform to all
throughout India at free of cost during the tenure of education. Each
educational institution will be affiliated to a centrally managed
electronically controlled educational
department and on getting admission in any schools at first time, a permanent
ledger account may be opened for him linking the same with AADHAR. (Like KUMAR 4806 3806 4307) and the standard cost of education which is
to be declared by the government from time to time for each course and will be debited to his account. After education is over, he can pay back the
cost incurred by the Govt for educating him by voluntary contribution. There
will not be any compulsory contribution. But the suitable rewarding system to
be formulated. If the cost of education is Rs 100000 over 18 years and the
student gets a job at the age of 18 and repaid back Rs 25000. Then a
certificate of merit with a grade point
of 25 % will be issued through system
mode and it will be credited to his
ledger account. If he contributes Rs 100000 after the elapse of 5 years, a
certificate of promising citizen to be generated on system mode and will be
issued to him immediately. If his contribution is more than 100000 a point
rated certificate will be available and also variant graded certificate of
variant badges will be issued to him in system mode. This rate will in long run
plays a key element in the promotion, career growth etc. There will be reward
systems to motivate faster repayment by providing a credit value which is
capable of redemption for cash at any bank. Here emphasis will be given to
rewarding system and there will not be any penalizing system at all. The duty
of education will rest with the Government and parents need not incur any
amount for education at all. GPRS enabled display system can be effected for
each individual and one can get the result such mobile phone / can
fix electronic device in his car, office or house which will
automatically display the value of his work on pre-set judgement. A system
based central rating system to be made
and anyone who lack to get the minimum level will be supported by remedial
teaching by social engineers. Here the
duty to make a promising citizen's rest with the Government and the same will
provide support facilities according to
the need of the child/ student. Education
will be done giving emphasis on each for all and all for each principle. The
initial cost of setting up of IT enabled schools throughout India can be
managed by CSR schemes of corporate enterprises. CSR complied companies, which
pay 1 % or more of their total turnover
are eligible for various prizes on online lottery system. For this 500 crores
is to be allocated through the union budget. The potential value of investment on
account of CSR on education from various companies are more than 10000 crores. Then the
running cost can be managed by educational lotteries with a payout of 50 %. Each employee need to contribute at
least 1 % of their salary towards educational lotteries. This will get 10
points the social commitment grading. Each individual need to get a minimum
grade to get financial assistance at concessional rate from public sector banks. The 50 % of the funds repaid by the students can be
utilized for further investment in education sector and 50 % for scientific research and applied research in
the respective subjects. This will ensure balanced world class education
forever. The government should develop electronic display advertisement in
noted areas for those contributors at
the lowest tariff throughout the year. Each individual need to fill online
reward point and on the accumulation of reward point, he can either cash or opt for an e - certificate form the
rating site. This has a significant impact as if there is saving in the cost of
education, the purchasing power of people will increase resulting into higher
inflow of indirect taxes or result in
deposit of money with banks result in the lowest cost of funds. This will also
benefit for progress of business and industry.

Much appreciated your time and thoughts. Actually, the current scheme of IT came thru by considering education and other civic needs. Definitely there is scope for reformation. We cannot stop income tax like middle East nations. Actually, they are struggling nowadays and introduced many indirect taxes.
BJP is making false promise and try to fool the billion people again. Each of the corruptions you note it, it was not revealed by opposition. It is very clear that BJP is equally responsible for all current billion scams. BJP is failed as an opposition and was getting the benefit of these scams in terms of money. Otherwise, there was no need to wait for CAG report for each scams.

Dear I have developed a revenue model so that the potential of revenue through inclusive participation and if implemented there need not any income tax at all. Ignorance of finance may leads for advocacy of income tax. If you are financial expert, you can make multiple millions with existing resource without causing pain to any single citizen in India. I am focusing on participative and inclusive growth. I can't say any say any good point about C&AG. My suggestion is to make a expert team in all over India to study the negative impact of C&AG. Then you will never say good about that department. I need at least 3 years time to prepare and project in public the revenue loss and hardship caused to millions of committed officers due to the pathetic attitude. In the era of IT still such department have voice shows the total failure of IT administration. If the proper route are computerized, there will not come any such circumstances of corruption. Prevention is better than cure. Most of press release are misleading and lack application of business intelligence.

If I have time I will prove most of the C&AG report are totally incorrect and lack of financial intelligence and business intelligence. They are good in case drafting and if the counter party fails to substantiate their point, even though truth rest with counter party, many a time public hold the view of C&AG's view. This never mean others are corrupted, most are hypothetical argument never have any resemblance with any reality. They say about 2G spectrum and estimated revenue loss on one side argument, I can prove these are totally against business logic. The loss incurred to government due to the negative thinking by such people and their theoretical stands leads huge loss to revenue which will be multiple times than the 2G spectrum issues. If you have time we will analyse C&AG report on all PSU through out India and can prove that most of their report is against business logic and which leads degrade many managers to clerical level resulting into huge loss to the government.Such study is yet to be done. If I am doing the audit, I never make such no-use statements, but I will emphasis on system correction and not to penalize the decision makers. Why they are not suggesting an ERP package to be developed by Govt of India to handle all govt transaction to root out corruption. Such anti-development post mortem analysis will kill India's future tremendous business potential. For instance if the company under PSU is making losses, they suggest for closure of the unit. They never point out the economic benefit of existence by contributing to excise duty, sales tax, employment potential, regional development, loss on electricity demand and so on . Most of the report are one sided report and have value only in theoretician mind and press value and lack business value. It is time to implement better ERP package at govt level and say good bye to all such post mortem analysis, which create unnecessary headache in the business and industry.

Govt should develop an ERP package with the help of industrial experts, administrative experts, technological experts and all business transaction to be routed through this packages. Before that the practical and complicated law structures should be eliminated and a fresh business laws to be incorporated. In the present circumstances, due to too many theoretical laws, development of ERP package by Govt of India or state government will remain as a myth. If the objective is to eliminate corruption, a well suited ERP package will do the function. What is need of multiple auditing in the era of IT. It all are too waste of public money and most of audit suggestions have theoretical values only. They have been making most of the managers below clerical level by negative thinking and pathetic theoretical views. Most of the public never know the damages caused by such team in the business sector and administrative from 1947 onwards. CM in person now need to provide humanitarian support by moving to the public only due to the cumulative effect of such born theoreticians. The loss caused due to govt and public will be multiples times than the so called theoretical loss declared in the 2 G spectrum cases. We need to eliminate such post mortem analysis for ever for betterment. It can be possible through development of ERP package at governmental level. It may take five to 10 years time. But this will help to avoid all such post mortem and theoretical killing argument from the public for ever. The system is to be corrected and balance will automatically become perfect. We need to say such good bye to 'ammayiyamma views' for ever.

For a democratic country, emphasis should be on education and punishment is apt for person who doesn't know the basics of management. If there is proper rewarding scheme, there will not be any leakage of contribution from the public.