SSC Supreme Court Junior Court Assistant Mock Test Series 2025 General Knowledge Committees and Recommendation
Which of the following statements is INCORRECT with respect to the India’s Tax Reforms Committee (TRC), 1991?
1
The TRC suggested aggregation of minor’s income, other than wage income, with the income of the parents.
2
The committee suggested a phased reduction of the corporate tax to 10% and continuation of surcharge on corporate tax.
3
The committee recommended the abolition of tax concessions, rebates and allowances, under various incentives for saving schemes.
4
The TRC suggested a moderate flat tax rate on long term capital gains after due indexation for inflation.