Akhilesh Ranjan, Member (Legislation), CBDT, while addressing a Post Budget Interactive Session 2019-20 at PHD Chamber of Commerce and Industry (PHDCCI) yesterday, stated that as compared to other world economies Indian taxes are still very moderate. He reiterated the need for reducing the levels of inequalities, which are a great concern for the Indian economy, and said the tax on the super-rich would help the government address the issue to some level. He also assured that the government is doing its best to build a quality model and functional specialisation.
He further assured to the industry stakeholders that a task force has been set up to look into all issues raised by industry on the budget announcements. He mentioned that the large scale credible tax schemes and tax administrative reforms are in the offering for India Inc and tax payer. Ranjan also stated that today, India is at that level of the economy where as much as India needs Capital , Capital also needs India as a justification for the imposition of surcharge on taxes particularly on super rich levied in Budget proposals for 2019-20.
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