[Letter to A P Jain]

Summary

In this letter dated 29 March 1963, M. R. Masani writes to A. P. Jain from the Swatantra Party Parliamentary Office concerning the Finance Bill and the Super Profits Tax Bill. He encloses draft amendments intended to block all increases in direct and indirect taxation, while noting that the Party would otherwise oppose both the Super Profits Tax Bill and the Company Savings Bill in their entirety.

Key points

• Masani encloses draft amendments to the Finance Bill and one amendment to the Super Profits Tax Bill.
• The proposed Finance Bill amendments would negate all increases in direct and indirect taxation.
• He understands that the Swatantra Party will oppose the Super Profits Tax Bill and the Company Savings Bill.
• He identifies a procedural clause in the Super Profits Tax Bill as objectionable on a matter of principle.
• He proposes that the amendment to clause 3 could be moved by a backbencher or an Independent so that the Party’s total opposition to the tax itself is not weakened.
• Masani asks Jain to place the amendments before party leaders and other members in both Houses.