BANGALORE: The budget 2015-16 may look into the brighter side of hostile people burdened by heavy tax. Over the last 7 years corporation tax has seen no change but it is expected to fall this time. Currently the corporation tax is 30 percent with minimal changes but with extra surcharge & cess it treks to 33 percent, as reported by The Times of India.

Some companies are moving their base of operations to another country because of the tax burden they face, which might setback the Make In India movement.

So the tax relief may see that individuals are free from it and therefore encouraging them to invest in the country. The slabs or tax exemptions may be reworked to suit an individual’s present lifestyle.

The issue of tax relief is highly debated as the revenue department fears that with the current rates in use some would try to move out of the tax net and profit illegally.

This change in tax slabs is intermittent with surcharge being reduced from 10 percent to 5 percent last year. Whatever it be, the final decision rests with the Prime Minister and the Finance Minister.

But if the pace of ‘Make In India’ needs to look high it is necessary that companies from other countries or from within should be investing in India to help the country join the league of the developed ones.

The Indian government is eager to restart the investment cycle with predictable and easy tax structure to help benefit the companies, individuals and India as a whole.

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