Tax panel recommends sharp cuts in personal income tax to spur demand
Updated : September 24, 2019 02:06 PM IST
Finance minister Nirmala Sitharaman told CNBC-TV18, government has not yet thought of rata rationalisation of personal income tax.
The Direct Tax Report also suggests dropping of surcharges and cess levied on income taxes.
Currently, individuals earning more than Rs 10 lakh per year are subjected to the income tax slab of 30 percent.