It is not only 33.33% corporate tax. Add to this other cumbersome taxes by way of FBT and Service Tax that the indian corporates (other than IT companies) are burdened with. We should not be obssessed with some rare examples of india inc. moving towards global acquisition. For healthy growth of corporates in general, it is advisable to do away with cumbersome FBT and retain the direct tax of 33.33%. The Service Tax rate should also be brought back to 10% as it is hurting the consumers in general and is likely to lead to some amount of unhealthy practices in the market.
RE:Corporate Tax
by on Feb 20, 2007 01:28 PM Permalink
FBT's are required other wise companies with stop paying salaries and only provide such benefits
Most of company having a hansome Turnover but there net profit is being managed properly and resulting low Taxes. Kindly reduce corporate tax and indroduce Turnover based Tax . This will bring a high Tax collection for Govt.
As a know most of the IT companies in India are enjoying TAX holidays. First they should start paying TAX ,then u can think of lowering the corpotate TAX for them..
Tax , Tax...and more tax...for each and everythng.... A day will come whn....for the air we breath...we have to pay the tax... But wheres is this tax all going to.....
For the young (always the media projected...EARNING MORE THAN THY ARE SUPPOSED TO...) , its a hard time....the more thy get..the more thy spent on tax....
Karnataka GOVT want s the IT companies to improve the road condition , so whts govt doing ith the money these companies are giving.
Govt must reply for ths..thn thy can increase the tax. Theres a common thnking like....thy will bear..whtever we impose...but situation is changing MR.GOVT , the ppl will rise.... Wait and see....
