Tax system being overhauled: Jaitley

London, March 14: Seeking to soothe the sentiments of foreign investors, disturbed by fresh claims of tax on past transactions by Indian authorities, Finance Minister Arun Jaitley has said his government was rationalising the country's tax system to make it fair. "We are trying to rationalise taxes - that is, lower taxes and introduce a non-adversarial and fair system”" the finance minister told an event co-hosted over the weekend by the Federation of Indian Chambers of Commerce and Industry and UK-India Business Council. "We need a lot of investment in India. We need to ease the process of doing business. Therefore, slowly we are introducing changes in that direction," he said, adding a fair and equitable tax system was a top priority. The finance minister's comments came against the backdrop of the tax authorities slapping a $3.2-billion capital gains tax on Cairn India, a part of the Vedanta Group, for a transaction that took place some 10 years ago.