BENGALURU: The Budget has rewarded honest taxpayers with lower tax rates and tax rebates. The finance minister also said that anyone filing tax returns for the first time will not attract scrutiny. This might induce individuals to start filing their tax returns.At the same time, the Budget has also proposed stricter rules for tax filing. “We are committed to make our taxation rates more reasonable, our tax administration more fair and expand the tax base in the country. Three years ago, it was made mandatory to mention the landlord’s PAN if the rent exceeded Rs 1 lakh a year.

Source: Economic Times February 01, 2017 18:27 UTC