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Income Tax Rate of 20% likely to be reduced to 15%!!!

Income Tax - By: - Craig Dsilva - Dated:- 4-9-2017 - Inflation is taxation without legislation. - Milton Friedman It is close to a year since demonetisation has taken place. GST the greatest tax reform since independence, has been rolled out a few mo .....

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l sections of society and have a magnitude impact on inflation. On 29 August 2017, rains lashed the city of Mumbai, usually referred to as the financial capital of the country. There were many tweets/hash tags which flooded the internet as well as th .....

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ucing taxes. The table below gives us the status of the current direct and indirect taxes in India. Income Tax Goods and Services Tax Description Annual Income Rate Particulars Rate Lower Income Group ₹ 2.5-5 Lakh 5% Essential Goods 5% Middle I .....

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ncome group. The average of 12% and 18% is 15% and not 20%. After Demonetization, the Finance Minister Arun Jaitley had said that - demonetization will not only bring back the unaccounted wealth into the economic system, it will also pave way for tax .....

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riticism of multiple rates under GST, saying it was not possible to tax luxury and common man s goods at the same rate. He said it might be possible to converge some rates in the future. We can converge some taxation in the future: 12% and 18% can be .....

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statement of the finance minister, we can conclude that somewhere in the near future most goods and services are likely to be taxed at the rate of 15%. But this process will take substantial time and effort, since a detailed study is to be done befor .....

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ich has been in existence for more than half a century, making changes is much easier. The past budgets do not appear to be changing the income tax slabs, but there seems to be an intention to reduce the income tax rates. If the income tax rate is re .....

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