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Higher tax on rich will discourage entrepreneurship: FICCI
Ever since the government came up with the idea of higher tax for the rich, India Inc has been opposing stating that it is against the individual and that it will have adverse effect on the Indian economy.
"A higher rate of tax on high income group taxpayers is uncalled for as this would discourage entrepreneurship. It could lead to professionals relocating to low tax domiciles such as Singapore, Dubai or London," FICCI President Naina Lal Kidwai said.
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