NEW DELHI: The Indian government hinted a tax relief for individuals and companies in 2015-16 budget which is said to be included major relief for individual taxpayers to boost savings as well as for companies to encourage them to invest in the country.
The contours of the package are still being worked out but it is likely that tax slabs or exemptions will be reworked for individuals and the corporation tax rate may be rejigged, officials said. The corporation tax rate now stands at 30 per cent and the rate has remained unchanged for the last seven years, tax experts said.
