NEW DELHI: Lowering corporate tax a challenge unless personal IT
collections increase and people pay taxes said Revenue Secretary.
It will cost Rs 18,000-19,000 crore if corporate tax is to be cut by 1 per cent, says Revenue Secretary Hasmukh Adhia.
Only 2% of GDP comes from personal income tax, which is
abysmally low; increasing it is a big challenge said Adhia.
Genuine ESOPs, IPOs, FPOs will not be touched through
capital gains tax on share transfer in unlisted companies said Revenue Secretary. (agencies)
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