Business Daily from THE HINDU group of publications
Tuesday, Jun 05, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jun 05, 2007 ePaper |
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Opinion
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Letters `Taxing changes'
This refers to the article "Taxing changes from June 1" (Business Line, May 26). One of the changes commented on therein is the increase in the threshold limit for TDS on bank interest from Rs 5,000 to Rs 10,000. Why the said change has been made effective only from June1, and not from April 1, is not understood. For, the unwarranted consequence is that a person would suffer TDS in the interim (between April 1 and May 31), even if his bank interest for the whole of the financial year does not exceed the new limit of Rs 10,000. Patently, there is hardship to such persons, especially if they have, in any case, no tax liability. According to a recent news report, the Finance Minister has proclaimed that tax laws being changed from to time is inevitable. Regardless of the merits or otherwise of such a stance taken by the Minister, any mindless change, as pointed out above, should certainly be avoided. V. Swaminathan Bangalore
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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