Showing posts with label retrospective taxation. Show all posts
Showing posts with label retrospective taxation. Show all posts

Saturday, June 16, 2012

Pranab Mukherjee: A Retrospective President

They have decided to make Pranab Mukherjee the Indian president with retrospective effect for the period 1995 - 2000! 

(An original Vivekean quote/tweet)

 Explanation: As this tweet confused people on twittersphere

Retrospective: Applying to the past (when not existing or applicable formerly.)

So, just as Vodafone did not have a tax liability for a particular period earlier but Pranab Mukherjee has arbitrarily now decided to tax them retrospectively for the said period. Similarly, we're now making him President retrospectively for the period 1995-2000 - a position he had not held earlier.