Question

Which committee recommended abolition of tax rebate under section 88?

Answer 1

Answer:

The committee which has recommended abolition of Tax Rebates Under Section – 88 of the Income Tax Act of India is.

Answer 2

Answer:

kelkar committee has recommended the abolition of tax rebate under section 88 of the Income-Tax Act.

The major recommendations of the committee are related to

• Increasing the slab of Income-tax exemption limit,  

• Rationalization of exemptions,  

• Abolition of long term capital gains tax,  

• Abolition of wealth tax.  
• Reduce the corporate tax from 35% to 30%,
• Permanent account number(PAN) should cover all the citizens,
• Abolition of minimum alternate tax.