« Top Headlines » Open DEMAT Account in 24 hrs  Tax planning for 2025: How to maximise your savings before March 31 deadline  New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha  5 major changes in the last 6 months every taxpayer should know!  Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch  Top 10 income tax changes from 2024 to look out for while filing ITR in 2025 «  Tax collection up in Bengal... Assocham for adoption of Singapore's low-tax scheme... » CPI opposes move to cut tax rate November, 09th 2006 The CPI today opposed any move by the UPA regime to lower income tax rate. CPI MP Gurudas Dasgupta said today that his party would oppose any move that would mean less revenue.   This came a day after Finance Minister P Chidambaram said that there was scope for further moderation (of income tax rate), indicating the government's willingness to lower it to encourage greater compliance.   The theory that lower tax means grater compliance is outdated. They (government) are doing it to woo foreign funds...We are opposed to it because we need additional one lakh crore for developmental schemes, Dasgupta told reporters.   Meanwhile, the Union Labour Ministry today decided to constitute a study team on violation of labour laws.   The team consisting of Members of Parliament, Labour Secretary and other officials will visit Himachal Pradesh, Haryana, Rajasthan and Tamil Nadu in this connection shortly.   Labour Minister Oscar Fernandes agreed to set up this team in response to a demand from AITUC leader Gurudas Dasgupta at the Consultative Committee meeting today.   CPI(M) MP Chittabrata Majumdar, who also attended the meeting, raised the issue of poor service conditions and labour law violations in the information technology sector.   The minister was said to have responded positively to senior CPI(M) leader's complaints but there was no concrete decision on this issue. The labour minister was also learnt to have agreed to invite the trade unions at the State Labour Ministers conference.