Budget 2020: Gt likely to cut tax rates for individual taxpayers



NEW DELHI: The go nment is likely to trim personal income tax rates and cut the tax on long-term capital gains from equity investments in its next budget to spur economic growth, go nment offi als have said.


Go nment offi als are also debating whether to offer more help to troubled financial services and whether to increase import duties boost private investments and domestic manufacturing.


"We are discussing tinkering with ... income tax rates so that more money is put in the people's hands," a senior go nment offi al directly involved in budget discussions told Reuters.


Many groups have been urging the go nment to cut personal income tax rates to spur demand and lift economic growth, which sank to a six-year low of 4.5% in the July-September quarter from 7% a year ago.

许多团体一直敦促政府下调个人所得税税率,以刺激需求,提振经济增长。今年7 - 9月这一季度,印度经济增长率从去年同期的7%降至4.5%,创下六年来的最低水平。

Earlier this year, the Modi go nment cut corporate tax rates to 15% for new manufacturers and to 22% for esting companies, from about 30%.


Finance minister Nirm Sitharn is expected to present the budget for 2020/21 fiscal year on February 1. She has promised a budget that will do more to boost growth.


Another go nment offi al said a proposal to relax long-term capital gains on stock investments was under consideration, to attract investors.


The go nment might also change import duties on s items to prome domestic manufacturing, a trade ministry offi al said.


Industry groups have urged the go nment to withdraw the long-term capital gains tax to encourage retail investment in mutual funds and shares, instead of other assets like gold or real estate.


"Additional net disposable income resulting from reduction in personal tax rates could enhance consumption and spur overall demand for goods and services," the Federation of Indian Chambers of Commerce and Industry said in a submission to the go nment.



译文来源:三泰虎 http://www.santaihu.com/48991.html   译者:Jessica.Wu


Preamdeep Daas • Pune • 3 hours ago

Actually the gt needs to do away with personal income tax. This will definitely generate spending capacity of the working middle class.



Ranjit Kumar • 3 hours ago

As a middle class family we will welcome any reduction in tax rates. Even a saving of 5-10 thousand rupees is a big relief. I hope go nment listens to the middle class and give us some incentive in the form of tax rate reduction or in form of standard deduction. The economy will get a big boost with more spending power in hand of people.



Ranjit Kumar • 2 hours ago

No way gt will reduce the tax cut but proposal increasing GST may get incresaed



Hari Sankar Sharma • Chennai • 3 hours ago

This go nment has exhibited courage in many other things but is yet to display the same in the Personal Income Tax policies!



Rameshwar Singh • Bhopal • 2 hours ago

Before every Budget, Modi go nment spread this fake news.....and I was wondering why he is called FEKU??



What Is In • India • 3 hours ago

I'm hearing this for years.



Dattatray Patil• 1 hour ago

Still we all ved for these folks and we will ve in next ions as well



Kannan Rajagopn • Chennai • 2 hours ago

Remove all subsidies and freebies



Goureesh Belavatagi • Pune, Maharashtra • 3 hours ago

Remove personal tax collect all tax at corporates.



Dinesh Sskar • 3 hours ago

Reducing personal income tax should bring more money in the hands of people making the market more buoyant.



Rampravesh Upadhyay • 2 hours ago

Go nment should abolish personal income tax and impose more tax on rice, chicken, mutton, beaf etc.



Raja Moorthy • Yangon • 2 hours ago

Abolish the income tax as recommended by Dr. Swami. The Middle and working classes are the growth engines for any country. America has survived the worst recessions incl. the great depression of the 1930s thanks to its resurgent middle and working classes. Gt must leave the middle classes with more disposable income to boost the spending. No wonder Middle classes in USA and Canada are the richest and form the backbone of the economic growth.



Truth Is Bitter • Bharath • 1 hour ago

Why NOT Stop Tax for Pensioners ???



Goureesh Belavatagi • Pune, Maharashtra • 1 hour ago

Stop collecting Individual Tax .



Truth Is Bitter • Bharath • 1 hour ago

Fake story Going around for TWO years ... Nothing happening , except Tax exemption for Corporates .



Easwaran • Coimbatore, Tamil Nadu • 2 hours ago

not rate cut which is normalky a juggliery of %. Abolish personal tax fr common man, particularly fr retired people.



Whereisindiaheading • 2 hours ago

nothing will happen unless there are ins round the corner; I am expecting this only in 2021!!!



三泰虎原创译文,禁止转载!:首页 > 印度 » 印度2020年预算:政府或降低个人所得税税率