CII suggests slashing income tax rates in forthcoming budget

Confederation of Indian Industry (CII) has suggested a cut in personal income tax rates or revive demand -- a move which would benefit 5.83 crore taxpayers who have filed returns for assessment year 2022-23.

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The industry body gave this suggestion to Finance Minister Nirmala Sitharaman on Monday, during the prebudget meeting, which she held with industry chambers.

CII further suggested reducing the highest 28 per cent GST slab on consumer durables.

Further the industry body also suggested to the finance minister that GST should be decriminalised.