1. Tax rate should not be changed (except for an increase in the minimum limit for individuals).
2. An increase in deduction for housing loan from Rs 150,000 to Rs 300,000.
3. Reduce the minimum alternative tax (MAT) rate for infrastructure companies and SEZ developers/units.
4. Broaden the tax base by requiring the mandatory filing for specified transaction or extending the presumptive tax regime.
5. Omit the retrospective amendments relating to royalty and indirect transfer introduced in the previous Budget.
6. No tax on short-term capital gains on transfer of listed securities.
1. Keep the indirect tax rates unchanged, especially the service tax and central excise rates.
2. Reduce the rate of special additional duty (SAD) to 2 per cent and allow an upfront exemption to the industry having surplus CENVAT (central value added tax) credit.
3. All services liable to service tax should qualify as 'input service' and a manufacturer should be allowed to take full CENVAT credit of the same.
4. Wherever the payments towards the services rendered are received in foreign currency the benefit of export of services should be available. The conditions relevant to export of services should be liberalised accordingly.