Financial Daily from THE HINDU group of publications
Monday, Jan 16, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 16, 2006 |
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Budget Industry & Economy - Taxation `No hike in tax rates in Budget' Our Bureau
New Delhi , Jan. 15 CORPORATES and personal income-tax payers can breathe easy. The Finance Minister, Mr P. Chidambaram, has held out an assurance that tax rates would not be hiked in the forthcoming Union Budget. ``I think the tax rates are reasonable... I am not going to increase any rate. I am going to improve the tax administration," Mr Chidambaram said during an interview to a TV channel. This observation of the Finance Minister would particularly cheer the chief executive officers (CEOs) of corporates, who are apprehending that the Government would accede to the demands of Left parties and raise tax rates or introduce new taxes in the Budget.
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