[Assam] Swaminomics - TOI

[Krishnendu Chakraborty]

Ram-da,

It is interesting --- the same TOI says that the
highest tax rate was 25% upto 1970-71 !

http://timesofindia.indiatimes.com/Business/Income_tax_rates_today_are_the_lowest_ever/rssarticleshow/2835163.cms




>Its tax-time here, and thought this column from the
TOI might shed some
>light on how people in India fare. Highlights are
mine.

>I just can't believe that the highest tax rate in
>the 70's was 97.75%.  And
>then this "*then the maximum he could earn after
taxes, no matter how great
>his assets, was just Rs 25,000 a year!" *
**
>If that was true, that I am sure was one major cause
for the growth and
>development of an underground economy & black money.
One can't render
>everything to Caesar!
**
>Well, thank heavens the rate today is 34% percent.

>--Ram



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