Financial Daily from THE HINDU group of publications
Monday, Dec 30, 2002

News
Features
Stocks
Port Info
Archives

Group Sites

Opinion - Letters


Rebate for savings

This is with reference to the article "Is the party over for savings?' (Business Line, December 28). The article rightly points out the rigidity of the Kelkar proposals with regard to savings.

While the committee adopted a soft approach in respect of a few other issues it has turned a deaf ear to the demands in respect of tax rebate on savings.

It is a well-known truth that small savings in India are purely based on the rebates on income tax. In many cases, even the insurance policies depend on the quantum of tax rebate under Section 88.

While the Committee has proposed to do away with the tax on dividend, which may provide a fillip to "investments in the economy", it has dealt a death blow to the various small savings schemes, and thousands of agents who earn their livelihood through them. The Committee should review its stand on small savings.

C.P. Velayudhan Nair

Kochi

Send this article to Friends by E-Mail
Comment on this article to BLFeedback@thehindu.co.in

Stories in this Section
Kelkar sticks to his guns


Vision 2020 — The power of mobility
Gulf War II: Economic consequences for India
Ending inspector raj?
Kelkar panel explains logic of its proposals
Listing authority high on agenda
Reforming corrupt practices on Wall Street
Rebate for savings
Educate public on VAT


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line