Financial Daily from THE HINDU group of publications
Friday, Dec 09, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 09, 2005 |
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Opinion
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Letters Tax issues
This refers to the report "Tax exemption with riders for profit from DEPB licences" (Business Line, December 7). The Taxation Laws (Second Amendment) Bill introduced in the Lok Sabha has made it clear that profit earned on the transfer of DEPB licences should be treated as business income. However, exporters with annual export turnover of Rs 10 crore will get exemption. Experience has shown that such recoveries have spurred a lot of litigation and heart-burning. The Finance Minister, Mr P. Chidambaram, mau consider withdrawing this clause for validating Income-Tax Department's efforts to recover tax on a retrospective basis. A. Jacob Sahayam Thiruvananthapuram
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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