India to Phase Out Tax Exemptions

To reach its tax collection target, India will gradually phase out tax breaks and widen the tax base, says the Economic Times.


Businesses in India's booming sectors are likely to be affected by the move as the government will closely monitor their tax compliance, notes the Times.


Quoting the finance minister Pranab Mukherjee, the Times says risk profiling of taxpayers will be further refined and investigations on tax evaders would be carried out.





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