Non reduction of headline tax rates a major disappointment

Milind Kothari: managing partner & head of direct tax, BDO India

Non reduction of headline tax rates will be a major disappointment to many. Nearly everyone expected that the Budget will reduce the corporate tax rate that would have helped India align to the rest of the world regime where the tax rates are constantly dropping. To win more investment, India needs to compete with the rest of the world economies, including emerging economies