Congress Criticizes Government Over Tax Inequality

The Congress criticizes the government, alleging that a corporate tax cut has unfairly benefited billionaires by Rs 2 lakh crore while the middle class faces heavy taxation. This accusation comes after data revealed personal income tax collections surpass corporate tax collections, contrary to previous trends.

The Congress has criticized the government's tax policies, alleging that the corporate tax cut has unjustly put over Rs 2 lakh crore in the pockets of billionaires while burdening the middle class with heavy taxation.

This statement follows data released by the Central Board of Direct Taxes (CBDT), showing that net direct tax collections up to July 11, 2024, include both corporate and personal income taxes, with the latter exceeding the former.

Congress general secretary Jairam Ramesh highlighted the disparity, noting that personal income tax collections now constitute a larger portion of total tax revenues compared to corporate taxes, a stark contrast from the period when Dr. Manmohan Singh was in office.

(With inputs from agencies.)