SUPER-TAX FOR SUPER-RICH WON’T HELP
DEAL WITH TAX EVASION WITH SEVERITY
2013-02-01 12:01
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Businessman Azim Premji, the country’s second richest person after Mukesh Ambani, may be a well-meaning person, but his suggestion at the recent World Economic Forum meet at Davos that it may be ‘politically correct’ to ask India’s super-rich pay a higher rate of tax will not go down well with India’s Richie-riches. Even the government is divided on the issue. Highly pragmatic Union Finance Minister Palaniappan Chidambaram himself seems to disagree with the idea. Instead, he emphasizes the need for higher tax compliance.