How Indian rupee will hit you

Written by Express news service | New Delhi | Updated: Aug 22 2013, 22:05pm hrs
For individuals, the Indian rupee depreciation would not impact the tax payment pattern much unless the investments are being diverted to unproductive assets like gold.

The tax collection so far has not been very encouraging with the indirect tax mop up inching up only 2.9 per cent in the April-July period while net direct tax collections growing by 10.37 per cent during the period.

However, given the fact that liquid funds are giving a return of over 9 per cent per annum, corporates might prefer to lock their money in form of high advance tax payment where they will generate a better rate of return, 12 per cent per annum on the refunds, as compared to the liquid funds.