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News
IRS report tax super rich
IRS report tax super rich News
Coronavirus
27 Apr 2020
Centre junks IRS officers' report proposing hike in taxes for super rich
The Union Ministry of Finance on Sunday (April 26) rejected a report titled 'FORCE (Fiscal Options & Response to the COVID-19 Epidemic') by 50 Internal Revenue Service (IRS) officers that suggested raising tax rate to 40% for those with income above Rs 1 crore, from 30% at present, and levy of wealth tax for those with over Rs 5 crore annual income.
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