Increasing threshold: Ensuring more people contribute to income tax

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Increasing threshold: Ensuring more people contribute to income tax - Business Standard

Quick Summary:

The most important question is this: In a country at India's income level, is it right or wise to exempt those earning ₹12 lakh a year from the income-tax net?

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The decision, announced in the Union Budget, to change income-tax slabs and rebates such that no tax will be due on an income of ₹12 lakh and below has been widely welcomed.