April 24, 2024 23:33 (IST)
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Tax structure be simplified and made more liberal: Calcutta Chamber of Commerce
Kolkata, Apr 23 (IBNS).Kolkata, Apr 23 (IBNS) An interactive session on "Current Income Tax Laws vis-a-vis ease of doing Business" was organized by the Calcutta Chamber of Commerce on Thursday.
C.L. Denzongpa, Principal Chief Commissioner of Income Tax, West Bengal & Sikkim was present on the occasion.
The focal point in the interaction attended by Corporate Giants, Financial Experts, Tax Professionals and officers of Income Tax and Customs & Central Excise was that in the era of Globalization and Liberalization, Income Tax and Customs & Central Excise Tax Laws should be made more liberal, simplified and transparent so that more revenue can be generated for national exchequer and revenue deficit can be kept under control.
Lower rates of Income, Corporate and Customs & Central Excise Tax can bring more assesses to tax net which will enhance the net tax revenue to a great extent.
The speakers emphasized on keeping the Government’s revenue and financial deficits under control and on simplifications of IT Laws, Lesser Tax barriers and to do away with double taxation.
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