Highest slab should be tweaked to Rs 20 lakh

Ankit Jain, Partner, Ved Jain & Associates said, “Indian economy has grown tremendously since 2014, the Sensex and Nifty have grown multifold, tax collection has increased, even consumption has increased during. However, the one thing that the government has not touched is the tax slabs. Even in 2014, the lowest slab rate started at Rs 2.5 lakh and the highest slab started at Rs 10 lakh. Both these slabs remain untouched to date. The focus of the government has been to increase the tax base of the Indian economy, i.e., the number of people who are filing tax returns. So, the government has not increased the lowest slab rate until now.”