[Assam] Swaminomics - TOI

[Ram Sarangapani]

Hi KC,

Yes, that is interesting. I have a feeling that Aiyar is correct - his
column seems to highlight it.

The more interesting point, however, seems to be that with all these numbers
floating around (25%, 97% etc), the tax-rates were not that important as the
the Govt. does not have a good collection mechanism. Basically, tax rates
don't seem to matter as the tax payers know the Govt. is not serious and
then there are many ways not to pay.

I have heard in the past, that Govt. collects at 22%  rate (that may have
gone up now), but it is still dismal.

--Ram da

On 4/14/08, Krishnendu Chakraborty <krish_gau at yahoo.com> wrote:
>
> 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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