Some Income Tax Reforms Are Needed: Revenue Secretary Tarun Bajaj

In an exclusive interview with Business Today TV Managing Editor Siddharth Zarabi, Revenue Secretary Tarun Bajaj has hinted at changes in income tax and capital gains tax rules. Some reforms are needed in the personal income tax also, Bajaj said here. “We need to tinker with some of the provisions, may give relief to few and may not give to others. But, yes, there is the need to simplify the tax rates, need to simplify the process of the personal income tax,” Bajaj said here. He further said, “I am of the strong view that our taxes should not come from increasing the tax rates but from expanding the tax base. So, our effort should be there.”