He was swamped by questions on the surcharge on withdrawal of above Rs 10,000 and the fringe benefit tax during his first lecture on the Union Budget for the benefit of Congress MPs. |
Chidambaram assured his party legislators that the withdrawal tax was "only a proposal", and explained the fringe benefit tax to anxious MPs like Naveen Jindal, whose day job is running Jindal Steel and Power. "He has assured us that the tax would be looked into, so that honest business expenditure is not taxed," said Jindal. |
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The finance minister was quick to identify Jindal's antecedents. "Naveen should rest assured that the industrialist in him will not be taxed unfairly", Chidambaram told the meeting. |
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Around 100 Congress MPs attended today's lecture. A notable absentee was Amethi MP Rahul Gandhi. Part two of the lecture, on delivery systems, scheduled for tomorrow may find a more punctual and receptive audience. |
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