https://www.taxtmi.com/article/detailed?id=9565 Urges reduction of income tax rates for individuals, HUFs and firms to parity with the lowest corporate rate because high GST and limited deductions have increased the effective tax burden. Emphasises ability to pay-derived from capital base, earnings, dependents, savings and social security-as the governing tax policy principle, and argues that adequate post tax income is necessary to sustain living standards and reduce incentives for avoidance. Recommends rate rationalisation to restore income after tax and enable savings and capital formation. en-us Tue, 01 Dec 2020 15:27:57 +0530 Tue, 01 Dec 2020 15:27:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9565 Urges reduction of income tax rates for individuals, HUFs and firms to parity with the lowest corporate rate because high GST and limited deductions have increased the effective tax burden. Emphasises ability to pay-derived from capital base, earnings, dependents, savings and social security-as the governing tax policy principle, and argues that adequate post tax income is necessary to sustain living standards and reduce incentives for avoidance. Recommends rate rationalisation to restore income after tax and enable savings and capital formation. Articles Goods and Services Tax - GST Tue, 01 Dec 2020 15:27:57 +0530 https://www.taxtmi.com/article/detailed?id=9565