Tax reforms

• Easwar Committee report recommends that tax regime must be made simpler, more friendly to taxpayers, especially for start-ups. 
• Predictability must be brought in the tax regime.
• The committee has recommended raising the threshold for Tax Deducted at Source (TDS) and reduction of TDS rates from 10 per cent to 5 per cent for individuals. 
• Do changes in law to avoid delay in the issue of tax refunds. 
• Encouragement of electronic filing and measures to reduce the compliance burden. 
• Tax to GDP ratio is still a tad over 10 per cent.
• Make sure the GST kicks in.