Letters: Taxing on business

Apropos the debate “Is it fair to frame tax laws on overseas buys of Indian assets retrospectively?” (March 21), I completely agree with Shyamal Mukherjee. As a businessman, I believe that retrospective changes in tax law will create an uncertain business environment and hamper foreign investment inflows. The vagueness in tax policy will force foreign investors to think twice before investing despite the huge scope that business in India offers. This is specially damaging because what the country really needs today is more investment and inflow of foreign currency, and we certainly can’t afford to lose any of it.

Sumit Kathpalia, Lucknow

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