Wednesday, December 27, 2017

No Proposal to Amend Income Tax Rates -Lok Sabha Q&A

Government says No Proposal to Revise Income Tax Rates this year

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE

LOK SABHA
UNSTARRED QUESTION No. 1355

TO BE ANSWERED ON FRIDAY, THE 22ND DECEMBER, 2017
01, PAUSHA, 1939 (SAKA)
AMEND INCOME TAX RATES
1355. SHRI DEVENDRA SINGH BHOLE:

Will the Minister of FINANCE be pleased to state:

(a) whether the Government proposes to amend the present rates of income tax so that more people may pay income tax;
(b) if so, the details thereof and the benefits likely to accrue to common man and the Government by this step; and
(c) if not, the reasons therefor?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI SHIV PRATAP SHUKLA)

(a) to (b) No Madam. Currently, there is no such proposal under consideration.
(c) The rates of income tax are prescribed through the Finance Act every year

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