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  • News From Press How the proposed new Direct Tax Code could cut your income tax

    How the proposed new Direct Tax Code could cut your income tax

    The cut in corporate tax rate has raised hopes of a reduction in income tax. The Akhilesh Ranjan taskforce, set up to suggest an overhaul of the Income Tax Act, has also recommended changes in the tax slabs.
    Economic Times Oct 21, 2019

    When the corporate tax rate was reduced to 25% last month, it was termed as an early Diwali for the corporate sector. Now, taxpayers are hoping the government will gift them a similar tax relief. According to former Niti Aayog Chairman Arvind Panagariya, “there is a strong case for a similar reform of personal income tax”.

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    1 Comment
    Prashant · 4 years ago `
    This again goes in favour of rich people and people earning very high income. So basically the government is only and only curing tax of rich people even though they earn much more but is not ready to pay more for the benefit of the society. It is only middle earner or middle class who has to suffer and bear the burden of rich( ridiculous) and poor( we never complained). Why should we be paying for rich people. What good ate they doing to the society? They want to keep all the money they earn and not give back anything back to the society from where they earned in the first place. Recent tax cut of corporates is not going to benefit anyone because they are so damn greedy that they will not put that money to employ more people because they want to keep all of it to themselves otherwise. Just think about it that why did government have to cut tax in anticipation of making corporates employ more otherwise corporates will not part their money to employ people which means they will never part anything with anyone and are extremely greedy. They blackmailed the government to which the government succumbed and now it is time for the common people to do the same and get the government to do this for themselves.

    Shame shame shame
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