SALARY WILL EMPOWER HOMEMAKERS
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This must be accompanied by changes in tax rules to make the proposal more meaningful and attractive.
When it comes to women's empowerment, you can expect lip service from politicians. The bill for 33% reservation for women in Parliament has been in limbo for several years now. However, a suggestion by Krishna Tirath, Minister of State for Women & Child Development, should be viewed differently.
A few months ago, Tirath suggested that a homemaker should be paid for all the invisible labour she puts in. To make it an attractive proposition, she said the payment should be tax deductible for the husband.
Financial independence is the first step in women's empowerment. A monthly honorarium will indeed be a significant step towards this objective. If the finance minister obliges by offering such a deduction in this year's Budget, it will be a shot in the arm of millions of homemakers. The idea is not as alien as it may seem. In the early 1970s, tax deduction was based on the marital status, wife's occupation and family size. There was no basic exemption and the 5% tax slab started from Rs 1 to Rs 5,000.
An unmarried taxpayer was eligible for a deduction of Rs 125 for his living expenses. If he was married and the spouse was not working, the deduction was Rs 200. There was an additional deduction of Rs 20 per child. While the proposal of an honorarium for homemakers appears positive, it stops short of giving them meaningful independence. They can spend the money as they wish but maybe not invest it. Under the current laws, any money gifted to a spouse is tax free.
But if this money is invested, the income gets clubbed with that of the giver under Section 60. The clubbing rules should also be tweaked to make the arrangement more attractive for both the giver and the recipient. Otherwise, it will be just another hypothetical benefit that no one avails of.
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