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Which of the following has been recommended by Kelkar Committee?
A) Introduction of a two rate personal income tax schedule - 20% up to an income
of Rs.4 lakh and 30% for income exceeding Rs.4 lakh.
B) The general rate of depreciation for plant and machinery to be reduced to 15%
from the existing level of 25%.
C) Both (a) and (b)
D) None of the above
Correct answer:
C) Both (a) and (b)
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