A tax complex

The tax proposals by the finance ministry in the Budget have irked industry so much that no criticism of the system is enough for it. At a conference to announce the new joint venture partner of Max New York Life recently, New York Life CFO Michael Sproule said, “There are complicated tax issues involved here [in India]”. To this Max India Chairman Analjit Singh said, “Michael is extremely benevolent in calling our tax regime only complicated.”