All BUDGET EXPECTATIONS
Managing Director and Chief Executive Officer
Tata AIG General Insurance Compnay
Insurance premium for covering small and medium enterprise risks could be exempted from Service Tax; this will greatly help the SME sector in insuring their assets.
ICICI Prudential Life
In the interest of larger penetration and with a view to encouraging people to buy life insurance as a long-term protection and savings tool, it would help if due consideration is given while subjecting the sector to service tax.
Kotak Life Insurance
It is important that government incentivize investments in long term savings in pension by having an explicit exemption for investment in pension Products. This could be on Exempt-Exempt-Tax (EET) mechanism.
Dr. Nirakar Pradhan
Future Generali India Life Insurance
Rather than ad-hoc divestment targets, clear roadmap for next few years should be drawn to bring down government holding in PSUs to 51%.
MD & CEO
For a level playing field, the Government can consider allowing pension products offered by life insurance, mutual funds to come under Section 80CCD like the NPS where investments by employers can help employees avail extra benefits.
MD & CEO
Max Life Insurance
A clear roadmap to support “Make in India’ will make the country an attractive destination for long term foreign capital.
Abhishek A. Rastogi
It is expected that the reverse charge mechanism is trimmed down, if not completely removed, to cover very exceptional situations. In addition, clarifications are expected on intermediary services, services to self, liquidated damages, bad debts and
RSM Astute Consulting
It is expected that the exemption limit for clubbing of income shall be raised to Rs. 10,000/- per minor child per annum.
Partner and National Leader for Transaction Tax
In terms of the retrospective amendment on indirect transfers, there is still lack of clarity on what is ‘substantial’. In that context, only “transfer of a controlling interest” in a foreign entity deriving its value substantially from assets locate
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