Tax reforms, not coercion, will boost revenues
First four years of UPA-I saw faster growth in direct tax-to-GDP ratio than the first four years of the Modi regime, despite the absence of comparable aggressive measures
Only around 7.4% of adults (aged 15 years and above) in India file or pay income tax
About 73% of India’s startups have received ‘angel tax’ notices, reported Quartz, citing a survey of more than 2,500 startups and entrepreneurs. While the government has indicated that it is working to resolve the issue, the taxman’s efforts to tax investments by ‘angel’ or early-stage investors has already dented sentiment.