Financial Daily from THE HINDU group of publications
Wednesday, May 08, 2002
Financial Daily from THE HINDU group of publications Wednesday, May 08, 2002 |
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Opinion
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Letters Rolled-back proposals
The partial rollback of some income-tax proposals (on withdrawal of concessions under Section 88 of I-T Act) by the Finance Minister is welcome relief for the middle-income groups. Ever since the NDA Government came to power in 1998, the salaried sections have been at the receiving end despite the fact that BJP, the leading constituent of NDA, contested the elections on the assurance of increasing the minimum income tax exemption limit from Rs 50,000 to Rs 1,00,000. When the salaried sections have been expecting the Finance Minister to implement the assurance for the past three years, the proposals in the latest Budget came as a bolt from the blue. The Finance Minister should bring affluent sections hitherto not paying any income-tax (but liable to pay tax) into the tax net to widen the tax base and spare the middle- and salaried classes from tax burden. P. Ezhilarasu Coimbatore
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