Why tax exemption to corporates?

New Delhi: In many countries of the world, big corporate houses have written letters to the governments asking them to impose additional tax on them.

In the midst of the corona virus epidemic, every civilised and democratic country in the world has helped its citizens financially, but in India, there is an exception to this idea as no financial help was given to the citizens in India.

In India, the income of 84 percent of the population has decreased in the last year and on the other hand the number of billionaires has increased.

There is a recovery in the economy of India, that is, the rich are getting richer and the poor are getting poorer.

Nevertheless, the government has given tax exemption to corporates in the budget. Even before this, in the last Lok Sabha elections i.e. 2019, the Central Government had given a rebate of one lakh 45 thousand crore rupees in corporate tax.

In the next year’s budget, the Government of India has reduced the surcharge on corporate tax from 12 per cent to seven percent.

Think, on the one hand, economic inequality is increasing in the country, the government is continuously increasing indirect taxes, which is burdening the common people and there is no exemption for the middle class in income tax but the surcharge on corporate tax has been reduced.

The government should have increased the corporate tax but the government has done the opposite.