« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  MAT holds promise for IT firms... Where are the taxes coming from?... » FM rules put easing of tax burden on corporations March, 06th 2007 Finance Minister P Chidambaram today ruled out lowering scheduled corporation tax rates without any increase in effective tax rates.    Show me any Asean country that has an effective tax rate of less than 19 per cent, he said at a post-Budget interaction with Ficci members. The tax rates at 19.2 per cent in India is very moderate, he added.    Responding to a question, Chidambaram said he would welcome a committee to examine moderation of scheduled tax rates as well as raising the effective tax rate to Asean level.    Fringe benefit tax, which accounts for just 1 per cent of corporation tax, will not increase the tax burden of corporations, he said.    "Employees stock options (ESOPS) are taxed world-wide. We are willing to work out method of calculation of ESOPs in consultation with industry," Chidambaram added.    The finance minister said taxing of ESOPS would not affect a companys ability to hire talent, as the proposed tax would apply to all companies.    He sought industrys cooperation in moderating inflation, which is hovering over 6 per cent. The government was not resorting to any price control in the cement sector and invited industry players for talks on duty differential measures announced in the Budget 2007-08. "We are not reinforcing price control," he said.    The Budget reduced excise duty on cement by Rs 50 from Rs 400 per tonne if it is sold at Rs 190 per 50 kg of bag, but raised it by Rs 200 per tonne on higher retail price.    "The government owes responsibility to the people of India to moderate prices where prices seem to have risen unreasonably. Whether they have risen unreasonably could be discussed. But if they have risen unreasonably, surely the government has an obligation to moderate prices," he said.    Reacting to differential tax rates, many cement companies have already increased cement prices.    Emphasising that moderating inflation is good for all, Chidambaram said opportunity to take profit in the short term should not cloud the thinking that in the long-term price stability is a fundamental feature of a sound economy.