ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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National Movement New Light on a Landmark

between taxable units only. It would be Interesting for an accountant to prepare the type of return needed from a firm bo satisfy the requirements of the taxing authority according to schedules A and B, and discuss the sins of commission and omission it could give rise to. This is, however, a time-consuming exercise and we must rest content with pointing out a few loopholes. The broad type of business may not be difficult to ascertain, but business expenditure can easily lend itself to mis- classifications if sharp tax differentials are laid down. The lines between basic wages and salaries on the one hand and non-basic rewards, between essential and essential amenities, between organising unproductive, speculative or gambling activities, etc, and otherwise, and between price rises due to cost increases and tax rises are not very clear- t and become more obscure as tax fates become heavier. It is basic to Mathur's scheme that these lines are sharply drawn.

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