'Removing dividend distribution tax was much-needed'

(Representative Image/iStock image)

By V. P. Nandakumar

"The decision to remove dividend distribution tax was much-needed as it was resulting in triple taxation of corporate earnings. The shift to a simplified scheme of personal income tax is another welcome move as it removes distortionary influences in the individual’s savings choices even though the actual tax savings may not be significant for those who were availing deductions and exemptions."

(The writer is a MD & CEO of Manappuram Finance Limited)