https://www.taxtmi.com/news?id=15767 India's statutory direct tax rates exceed the Asian average, but exemptions and deductions under the Income Tax Act, 1961 lower the effective corporate tax to about twenty three percent. A proposed reform would phase down the corporate tax rate over several years while phasing out exemptions and deductions to broaden the tax base and reduce taxpayer burden, as stated in the budget speech and in a parliamentary written reply. en-us Sat, 27 Feb 2016 11:24:03 +0530 Sat, 27 Feb 2016 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15767 India's statutory direct tax rates exceed the Asian average, but exemptions and deductions under the Income Tax Act, 1961 lower the effective corporate tax to about twenty three percent. A proposed reform would phase down the corporate tax rate over several years while phasing out exemptions and deductions to broaden the tax base and reduce taxpayer burden, as stated in the budget speech and in a parliamentary written reply. News - Sat, 27 Feb 2016 11:24:03 +0530 https://www.taxtmi.com/news?id=15767