Simplify I-T structure

That's the way to go for improving tax base, compliance

Finance Minister Nirmala Sitharaman hinted last week that the government was considering lowering and rationalising personal income tax rates, among other measures, to boost economic growth, which slowed to 4.5 per cent in the second quarter of the current fiscal year. There are a variety of reasons why the government should revisit and rationalise income tax in the forthcoming Union Budget. For one, it would be a logical step after the reduction in corporate tax rates earlier this year, and would help take the process of direct tax reforms forward. The simplification of the tax structure has a better chance