Opinion - Letters to the Editor

Unfair to investors

Sir, — The Unit Trust of India has recently informed the members of the Monthly Income Plan, 2000, that for 2002-03, no interest will be paid to them. This is a big blow to those who have invested in the scheme. I request the authorities concerned to look into this.

T. V. Neelakantan,

Kochi

Sir, — The UTI declared income distribution at 5 per cent per annum, payable monthly, under its Monthly Income Plan 2000 (3) for the current financial year. This income is to be taxed at the hands of the recipient assessees depending upon their tax status, after the UTI recovers 10 per cent of income at source for this category. Will it be in order to tax this pittance further at the hands of the recipient?

R. Vankatakrishnan,

Coimbatore, T.N.

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