Richer class enjoy not only exemptions available to middle class, but earn tax free dividend, lower capital gains tax and advantage of host of tax benefits to the companies. For corporates,reduce rate to 20% and remove all incentives. For others reduce the threshold to Rs 2.0 lacs to senior citizen, above 60 years, women 1.75 lacs and Rs 1.5 lacs to others.
RE:Bring equity in taxation
by Karthick Devarajan on Feb 19, 2007 04:47 PM Permalink
Brilliant thought! I think FM will raise the tax ceiling to 1.50 Lakhs this time.
