Friday, 6 February 2015

In black and white


Chidambaram has prescribed a withdrawal tax and fringe benefit tax that will actually increase the black money glow instead of curbing it (Half our economy is black, Guest Column, March 13). Improving collections through withdrawal tax and fringe benefit tax can be successful and acceptable to people only if personal income tax is removed completely and rules are totally simplified for taxing on business income.


(This letter was published in Hindustan Times on 20th March 2005.)