Business Daily from THE HINDU group of publications
Monday, Aug 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Aug 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Income Tax Columns - For the Asking Wealth tax exemption Why has the doubling of wealth tax exemption limit not hogged headlines? Parmanand Relan, New DelhiWealth tax over the years has degenerated into a relic. It does not generate revenue for the Government nor is it used in foiling income-tax evasion by correlating one’s income and wealth. Only the really wealthy are bothered by it as it is littered with numerous exemptions and concessions. It is better abolished. In the event, the doubling of the tax-free threshold from Rs 15 lakh to Rs 30 lakh has almost been consigned to footnotes of newspaper columns. S. MURLIDHARAN ASK! Send in your queries to ask@thehindu.co.inMore Stories on : Income Tax | For the Asking
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