Posts Tagged ‘higher’

Tax the super-rich at a higher rate

Tax the super-rich at a higher rate

Recently we have seen recommendation of FICCI on income tax rate change in post New Tax Slab – I wish. As per FICCI highest income tax rate of 30 percent should be levied on income above Rs 20 lakh as against Rs 10 lakh currently. Another recommendation is given by C Rangarajan, a key economic advisor to Prime Minister Manmohan Singh that government could consider imposing a marginal tax rate higher than the current 30% on those with “substantially higher income”. This […]