The Hindu Business Line : `Tracking' not `taxing'

This refers to the editorial Drawing ire, (Business Line, March 3). The suggestion that the cash withdrawal tax may have to be credited against the drawer's assessed tax liabilities is ill- founded. For, the objective of the levy is to curb proliferation of black money.

In a recent interview, the Finance Minsiter said that the intention was not to `tax', but to `track'. He went on to add that his government would find out ways to `track'. Does that not imply that, as of now, the government has no clue as to how the levy would be followed up to serve its intended purpose?

V. Swaminathan

Bangalore

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