But why not a retrospective exemption?

By Vijay Kumar

While the whole nation, especially State Governments and local bodies and contractors will be grateful to the Finance Minister, he should have gone a step further and granted the exemption with retrospective effect. In any case he has exempted this with effect from 27.07.2009, IN PUBLIC INTEREST. Apparently there could not have been any public interest in taxing this activity prior to 27.07.2009!