IT is understood that the discussions which have been going on between the Finance Member and his Congress colleagues in the Interim Government have reached a stage when an agreed settlement is possible... . The ... only concession the Congress Ministers are likely to secure is the saving of some five crores of rupees to the pocket of the Big Money bosses in whose interest allthishullabaloo has beenraised.Itis understood that the Congress colleagues of the Finance Member have agreed that: (1) The Capital Gains Bill will go through the Assembly as recommended by the Select Committee.

(2) The Finance Bill will go through as introduced by the Finance Member in the Assembly.

This bill makes a number of important changes in the existing level of income-tax and super tax and their incidence. Among other things the Corporation Tax is increased by one anna, and a new rate of income tax and super tax in the case of individual incomes is introduced whereby the maximum rate of 15 1/2 annas tax in the rupee is reached at incomes of 1,20,000 (unearned) and 1,50,000 (earned), instead of the present levels of 3 1/2 and 5 1/2 lakh respectively. Dawn Delhi