This year’s 2018 Budget may also create a separate tax exemption for Term Life Insurance.As of now, the maximum tax exemption under Section 80C of the Income Tax slab is Rs.1.5 lakh. The insurance industry demands to raise the bar as it wishes to motivate the people to buy more term ...
140. India’s tax to GDP ratio is very low, and the proportion of direct tax to indirect tax is not optimal from the view point of social justice. I place before you certain data to indicate that our direct tax collection is not commensurate with the income and consumption pattern of Ind...