Shorthand Dictation 80 Words per minute with outline, 5 Minute Test 43

If the direct cost and indirect cost is to be deducted. Then there is hardly any profit for the processed ²⁰ goods and they will be benefited practically at a very marginal level, although on the goods manufactured tax deduction will ⁴⁰ be allowed on proportion of the export turnover divided by the total turnover and the deduction is to be ascertained ⁶⁰ on the basis of such proportion. It is difficult to understand as to why that formula is not adopted in 80 the case of trading goods. I will appeal to the Hon’ble Finance Minister to again consider the matter and have ¹⁰⁰ a re-look into the position. In the case of total turnover many of these for example sales tax, excise duties ¹²⁰ and other things are included, whereas in export turnover these are not included. In the case of proportion, unless like ¹⁴⁰ is compared with the like how can you determine the proportion? Therefore for the total turnover, many of the items ¹⁶⁰ which are not going to the export turnover have to be deducted. But what about the sales tax? What about ¹⁸⁰ the excise duty and what about the other items which do not go into the export turnover?

I will appeal ²⁰⁰ to the Finance Minister to kindly look into the matter and if something can be done, this will be encouraging ²²⁰ the export industry.

In the case of hotel industry, it is true that, encouragement has been given to boost up ²⁴⁰ the hotel industry. If the hotelers take the money from any four conductors or the tourists within the foreign exchange ²⁶⁰ which has been sent from abroad, then they will be given the relief for deduction, under580 HHD. ²⁸⁰

This relief was insisted upon by the hotel industry long back. This has been given effect to, but only from April 1992. I will request the Hon’ble Finance Minister to kindly look into the matter and if ³²⁰ possible, extend the benefit not from April 1992 but from the day when section 80HHD ³⁴⁰ was introduced. Now in the case of the Hon’ble Finance Minister, he has tried to introduce the interest tax. Regarding the ³⁶⁰ tax to be deducted at source only the term deposit is now to attract such deductions. But what about the ³⁸⁰ different kinds of other term deposits on which tax is to be deducted at source? Except the bank interest, in respect ⁴⁰⁰ of other institutions tax is to be deducted at source regarding the interest on term deposits.