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TAX PROPOSAL AND BLACK MONEY ERADICATION - CLEAN INDIA INITIATIVE - Budget 2015

Tax in General + Budget + Finance Acts - By: - CS Swati Dodhi - Dated:- 2-3-2015 Last Replied Date:- 30-12-1899 - TAX PROPOSAL Objective of stable taxation policy and a non-adversarial tax administration. Fight against the scourge of black money to be taken forward. Efforts on various fronts to implement GST from next year. No change in rate of personal income tax. Proposal to reduce corporate tax from 30% to 25% over the next four years, starting from next financial year. Rationalisation .....

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♦ Benefit to middle class tax-payers; and ♦ Stand alone proposals to maximise benefit to the economy Black Money Generation of black money and its concealment to be dealt with effectively and forcefully. Investigation into cases of undisclosed foreign assets has been given highest priority in the last nine months. Major breakthrough with Swiss authorities, who have agreed to: ♦ Provide information in respect of cases independently investigated by IT department; ♦ Confi .....

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