The report said that super-rich tax proposal would be kept on backburner till at least the general elections.
The DTC Bill which will replace the 50-year-old legislation has been awaiting the Cabinet approval from last four years. In the case of wealth tax, the government had the plan to increase the threshold to Rs 50 crore, from Rs 15 lakh currently, with the levy pegged at 0.25 per cent.
Experts believe that impact of higher levying on those with an income of over Rs 10 crore will be marginal, given the fact that those earning Rs 1 crore or more have been slapped with a surcharge that makes the effective tax rate 33 per cent.
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