Ficci for cut in cor­po­rate tax rate in Bud­get

The Hitavada - - MONEY -

New Delhi, Jan 13 (PTI)

IN­DUS­TRY cham­ber Ficci on Sun­day rec­om­mended the Gov­ern­ment to cut cor­po­rate tax rate across the board to 25 per cent ir­re­spec­tive of turnover in the forth­com­ing Bud­get to spur eco­nomic growth and in­crease over­all tax col­lec­tions.

The cham­ber has also sug­gested re­vi­sion in the tax slabs for the in­di­vid­ual tax­pay­ers with the top 30 per cent rate to be ap­plied be­yond Rs 20 lakh an­nual in­come.

“Busi­nesses to­day are faced with high tax cost. The ba­sic cor­po­rate tax rate of 30 per cent cou­pled with div­i­dend dis­tri­bu­tion tax rate of 20 per cent makes the ef­fec­tive tax cost for a com­pany too high,” Ficci said in a state­ment.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.