Use tax money judiciously:Shaw

Bangalore: Europe`s wealthy have asked to be taxed more, but a top Indian technocrat has put question marks over the ability of the government in India doing a good job with such funds if a law was passed in this regard.

"My view on taxation levels in India is that it is at a reasonable level and I think what is more important is how the government uses taxpayers` money," said Kiran Mazumdar-Shaw, the Chairman and Managing Director of Biocon, India`s largest biotech company by revenue, in an interview to PTI here.

"There is little confidence in this as the government is perceived to be doing a sub-optimal job. I would rather see wealth being invested in genuine CSR (corporate social responsibility) or developmental activities with IT exemption on such expenditure," she said.

Mazumdar-Shaw, a Padma Shri and Padma Bhushan awardee who has been named among TIME Magazine`s 100 most influential people in the world, was asked about her views of Europe`s wealthy recently asking to be taxed more and if she thought top earners in India should follow suit. She said tax slabs are always proportionate to wealth/income, adding that most taxation levels on high incomes range between 30-50 per cent, which she thought is fair.