Some rates have come down in 2018, but tax terrorism is far from over

The tax terrorism has hardly come down. And the reason stays same - absurd and impossible targets given to tax officers

Harsh Roongta

During the previous government’s regime, there was a lot of talk about tax terrorism. And this government had vowed to end this. But have things really changed?
Let’s look at some positives since 2014. The limit for deduction under section 80C has been increased from Rs 100,000 to 150,000, and the limit for deduction of interest payment on loan taken for a self-occupied house was increased from Rs 150,000 to Rs 200,000. The tax rate for the slab between Rs 250,000 to Rs 500,000 has been brought down from 10 per cent to 5 per cent. In addition, some tinkering has been done with the National Pension Scheme to bring it closer to the tax status of Employee Provident fund.
Some good changes have also happened on the tax administration front refunds below Rs 50,000 are processed really fast. Many people who filed their returns in July 2018 and had minor refunds have already been received them. Also, the first baby steps on grievance re

Also Read

Will govt, Income Tax dept get more tax revenue if HUFs are abolished?

Readers' Corner: Taxation

Gross direct tax collections in Apr-Sep FY19 up 17% YoY to Rs 5.47 trillion

Incurred a capital loss? Here is how you can set it off in your tax returns

No coercive action against start-ups for now to recover tax, says CBDT

Readers' Corner: Tax

I-T dept is watching, claiming rent as business income won't be that easy

There is bad news for you if your boss showered you with expensive gifts

No need to pay customs duty on imported gifts valued below Rs 5,000

Readers' Corner: Tax

First Published: Dec 30 2018 | 8:50 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to