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Sunday, Feb 25, 2007
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 Industry & Economy - Budget
Reduce corporate, personal tax rates

Reduce the corporate and personal tax rates to 20 per cent. Reduce service tax rate to 8 per cent. Club the dividends from companies to the taxable income if the taxable income of a person/HUF/ company exceeds Rs 1 crore per year. Impose a pollution tax of 5 per cent on all inorganic waste generated, and energy (all non-renewable sources) consumed. Allow the companies to use same method of depreciation method for both tax purpose and for reporting to shareholders. Impose an annual tax of Rs 10,000 per luxury car costing Rs 20 lakh or more.

Dr M. Srinivasa Reddy, Professor,

Dept. of Management studies

S.V. University, Tirupati

More Stories on : Budget | Income Tax | Taxation

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