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

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France- Experiment Worth Watching

4.2 per cent of the capital sum) to be set apart every year. Thus, exemption from gift tax can make an appreciable difference. The return on assets like bank deposits or the 12-per cent National Savings Certificates would still be higher, but only so long as the total income and the amount invested remain within the exempted limits (ie, Rs 1.75 lakh, now being raised to Rs 2 lakh). For a highest bracket income and wealth tax payer having investible funds of more than Rs 2 lakh, the new instrument would clearly be the most remunerative. To such an investor, the income from the new bonds would be equivalent to a gross return of 26 per cent

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