Financial Daily from THE HINDU group of publications
Monday, Mar 21, 2005
Financial Daily from THE HINDU group of publications Monday, Mar 21, 2005 |
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Opinion
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Letters Double taxation
There is a whopping increase of income tax of about 500 per cent proposed in 2005-2006 compared to 2004-2005 for senior citizens. The retired government officers whose monthly income, including pensions are around, Rs 20,000 are those severely affected. On the one hand, tax-free investment avenues have been closed and on the other exemptions under sec 80L have also been removed. While efforts to simplify tax measures are unexceptionable, in the case of senior citizens the measures appear like double taxation. I sincerely hope it will be possible to lessen the impact considering the government's avowed concern for senior citizens. R. Sundaram Chennai Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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