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Economic Survey 2015-16: Proposal to widen the tax net and phase out exemptions

Economic Survey 2015-16: Proposal to widen the tax net and phase out exemptions

Feb 27, 2016, at 12:59 am

New Delhi, Feb 26 (IBNS) The Economic Survey 2015-16 tabled in the Parliament on Friday by the Union finance minister Arun Jaitley proposed widening tax net from 5.5 percent of earning individuals to more than 20 percent, reasonable taxation of the better-off individuals with income from Real Estate and Agriculture, and phasing out of the tax exemption practice.