MUMBAI: It could be taxing times for tax officials as well as those they turn their glare on. But such a process, entailing a case-by-case scrutiny, could be tedious and time consuming. "A higher personal income tax collection could to an extent cushion a slower growth in corporate tax if the slowdown in the economy continues. At that point, tax numbers may go up or down depending on sales and performance. So, if GDP growth stays sluggish, a higher tax from corporates cannot be expected," said a tax officer.

Source: Economic Times September 28, 2017 18:45 UTC