Govt virtually rules out any cut in income tax rates

The government has virtually ruled out a reduction in personal income tax, including in the forthcoming Budget, with well-placed sources citing examples of higher rates in several countries such as China, the US and the UK, apart from the lack of fiscal space to reduce the levy. Speculation had started since govt’s decision to slash corporation tax rate to 15%.

from Times of India https://ift.tt/36gdMWH