India low on tax paying ease

The process of paying corporate tax rates in India is among the most cumbersome according to ‘Paying Taxes, 2014’ a study by PwC and the World Bank group, which investigated and compared tax regimes across 189 economies worldwide, and ranked them according to the ease of paying taxes. India where tax rates are as high as 62.8 per cent ranks 158 as there are as many as 33 payments under the head of profit, labour and other taxes, and the time taken to comply with taxation requirements could go up to 243 hours.