N Venkat
3 साल 10 महीने पहले
We have achieved the removal of cascading tax rates in indirect taxation with GST. It is a great achievement by the Government.
The composition of direct tax rates also needs to be relooked into. A base tax rate + a surcharge + a cess makes it very difficult for taxpayers to compute and pay.
The thought that the entire tax will be enhanced by a surcharge if the income crosses a threshold, is not an encouraging one. A higher income, entailing a higher slab only for the incremental amount, is a more tenable thought.
These can be replaced by rejigging the slabs and introducing more slabs with higher tax rates. This rationalisation will be very helpful while doing computations.
The slab rates should also be linked to some index so that there is no need for a legislative change every time.
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