sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Income Tax rules for new financial year
 How to claim income tax refunds in 2019 in India
 What Latest Form 16 Changes Mean For You
  Companies (Incorporation) Third Amendment Rule,2019
 Filling salary details in ITR-1 for FY 2018-19 gets easier for taxpayers
 All the new details required in income tax return forms for FY18-19
 Income Tax return forms for AY 2019-20 out; last date of filing July 31
  Extending the due date for furnishing of report u/s 286(4) of the Income-tax act,1961
 CBDT extends final sales return filing date
 How to e-file ITR 1
 What you should do if you have missed the 31 March ITR deadline

Industry demands non-adversarial tax environment, lower rates
January, 07th 2015

India Inc today pressed for non- adversarial tax environment and lower rates to boost economy even as Finance Minister Arun Jaitely promised to take steps to improve ease of doing business for promoting manufacturing.

In the customary pre-Budget consultation with the Finance Minister, industry demanded increase in public spending in the infrastructure sector and expediting the reform process to promote 'Make in India' campaign.

Admitting that the manufacturing growth is still patchy, Jaitley in his opening remarks said: "We still have lot of distance to cover. Ease of doing business is high priority for the government. We are working on a task given by the Prime Minister to improve India's ranking".

He also said that implementation of GST is expected to improve the tax administration regime and would help in bringing more transparency in the system and ensure smooth flow of goods.

Talking to reporters after the meeting, CII President Ajay Shriram said: "We had a good discussion. We raised several issues. The rate of MAT should be restricted to 10 per cent to provide a fillip to manufacturing. The developers and units in SEZs should be provided relief from MAT and DDT".

Ficci President Jyotsna Suri said that efforts should be made to move away from the aggressive revenue approach and provide "a genuine non-adversarial and conducive tax environment" for industry and economy to flourish.

"I requested for rationalisation of tax regime. There is a revenue target given to tax officers and because they have to attain that, they often use irrational tax demands and use coercive methods. They should be judged on their performance and not on their achievement of targets," she said.

Yes Bank CEO and Assocham President Rana Kapoor said the government should embark on a five-year systemic programme for disinvestment, especially for non-strategic sectors with a rolling list of targets and aim to disinvest each year equal to about 0.5 per cent of the GDP.

"Government should create a five-year roadmap for recapitalisation of PSU banks and set up a Bank Investment Company under RBI to act as a core investment committee and hold equity shares in PSBs," Kapoor added.

The representatives of trade and industry made various recommendations for consideration in the Budget.

The major suggestions include fiscal consolidation, promoting investment, containing inflation and facilitating ease of doing business among others.

Other recommendations include flag-off strategic sale of loss making PSUs, phased dilution of government stakes in public sector banks to 51 per cent.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions