Moneycontrol Be a Pro
Get App
Last Updated : Dec 30, 2016 07:16 PM IST | Source: CNBC-TV18

Budget 2017: Govt likely to lower personal taxes, sources say

CNBC-TV18‘s Shereen Bhan, quoting sources, say while there is plan to bring corporate taxes down to 25 percent level, focus this Budget will be on personal income tax.


The government is likely to lower personal taxes than corporate taxes, top sources say adding that the big push for economy will come from rate cuts.

CNBC-TV18’s Shereen Bhan, quoting sources, say while there is plan to bring corporate taxes down to 25 percent level, focus this Budget will be on personal income tax.

This could be done to give taxpayers a sense of reward for the pain they experienced due to demonetisation. Also, with cash crunch, the government would not want to look like they are favouring corporates over regular tax payers.

This could mean some tweaking in exemption rules, Bhan said adding that changing the slabs, as anticipated earlier, could impact government’s revenue.

Watch video for more..

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Dec 30, 2016 01:46 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour