Reference Budget Line, I have the following request to the Finance Minister for consideration.
Interst income is fully taxable. It does not take into account the fact that the total interest income is not real income, as inflation eats into the capital. As such, either the interest should be exempt up ro a reasoonable level - more so for the senior citizens - or only the real intetrest income be taxed, after adjusting for inflation.
S. Thareja
New Delhi
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