Income Tax Department rejects report suggesting higher income tax on super-rich
Income Tax Department has rejected a report by a team of Indian Revenue Services (IRS) officers suggesting the government to hike income tax rates for super-rich and a higher levy on foreign companies as a short term measure to deal with cash issues amid the coronavirus crisis
The clarification came after the department found media reports circulating on social media regarding suggestions by a few IRS officers for tackling Covid-19 situation. Source: Twitter