This refers to the editorial “Bequest tax worries” (November 15). The idea of reintroduction of estate duty or inheritance tax is another of Finance Minister P Chidambaram’s futile attempts that add to the country’s economic chaos. In the case of the Direct Taxes Code (DTC), which is said to replace the existing Income Tax Act, one wonders whether it would simplify any section of the present Act. If so, which one? Besides, would DTC eliminate exemptions given to corporate tax payers?
At the same time, service tax is collected from customers by 1.7 million service providers, but it is said that only 600,000 providers are remitting service tax collected from the public to the government. The remaining roughly 1.1 million service providers are collecting service tax at 12.36 per cent from the public, but are not remitting it to the government. However, our finance minister doesn’t seem worried. Such decisions are no means to an end.
S C Aggarwal New Delhi
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
E-mail: letters@bsmail.in
All letters must have a postal address and telephone number
