February 5, 2017 2:28 PM

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Personal income tax base must be before corporate tax cut: Revenue Secretary

Revenue Secretary Hasmukh Adhia said that a reduction in corporate tax is a challenge and cannot be done unless there is an increase in share of personal income tax. Speaking at a post-Budget interaction held by FICCI in New Delhi, Mr Adhia said, the biggest challenge is to increase the share of the personal income tax in the total kitty which is abysmally low. He also said, the profile of personal income tax payments does not match with the consumption profile. Mr Adhia wondered how is it possible that out of only 76 lakh people showing income of more than 5 lakh rupees in the country where 56 lakh are salaried people. He said, this is a big challenge.

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