Yashwant Sinha's reversal of the decision by Chidambaram (Finance Act 1997) to exempt dividend income in the hands of the shareholders will hurt a class of persons already adversely affected by a variety of fiscal and economic developments without yielding any commensurate benefit in terms of higher tax yield to the government.
To continue reading, become a subscriber.
Explore our attractive subscription offers.
Click here
Comments
EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.