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 ____________________________________________________________________________________ Be a better friend, newshound, and know-it-all with Yahoo! Mobile. Try it now. http://mobile.yahoo.com/;_ylt=Ahu06i62sR8HDtDypao8Wcj9tAcJ _______________________________________________ assam mailing list [email protected] http://assamnet.org/mailman/listinfo/assam_assamnet.org
