https://www.taxtmi.com/article/detailed?id=5685 Proposals seek immediate individual tax relief through higher basic exemptions and expanded deductions for investment, retirement and housing; a standard deduction for salaried persons; and broader depreciation allowances for assets used to earn salary. Complementary reforms include rationalising withholding/collection rates, raising cash transaction thresholds, curbing intrusive compliance practices, modest indirect tax rate reductions and targeted exemptions. Enhanced productivity and cost accounting in government spending are promoted as medium term internal savings to finance these measures. en-us Tue, 24 Jun 2014 07:59:19 +0530 Tue, 24 Jun 2014 07:59:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5685 Proposals seek immediate individual tax relief through higher basic exemptions and expanded deductions for investment, retirement and housing; a standard deduction for salaried persons; and broader depreciation allowances for assets used to earn salary. Complementary reforms include rationalising withholding/collection rates, raising cash transaction thresholds, curbing intrusive compliance practices, modest indirect tax rate reductions and targeted exemptions. Enhanced productivity and cost accounting in government spending are promoted as medium term internal savings to finance these measures. Articles Income Tax Tue, 24 Jun 2014 07:59:19 +0530 https://www.taxtmi.com/article/detailed?id=5685