A government panel tasked with overhauling the nearly six-decade-old Income-Tax Act on Monday recommended significant relief for taxpayers, including an across-the-board 25% tax rate for both local and foreign companies and changes in personal tax slabs to benefit middle and upper middle class Indians.

Sandeep Jhunjhunwala, Director shares his views on Task force on direct tax code submits report to Sitharaman for IANS(News Agency)
 Task force on direct tax code submits report to Sitharaman