Budget Reactions: PwC welcomes direct tax proposals; in line with DTC roadmap
PwC welcomes the direct tax propsals the FM announced today as they are in line with road map to Direct Tax Code.
March 16, 2012 / 16:55 IST
Rahul Garg
Given that FM had a little choice, the proposals are reasonably balanced and estimates realistic. Introduction of General Anti Avoidance Regulations would impact the tax payers and result in more litigation. Removal of cascading effect of Dividend Distribution Tax and reduction of withholding tax on interest on certain external commercial borrowings is welcome. The proposals clearly as he said are in line with road map to Direct Tax Code. Overall encouraging as it could have been worse.
The FM's proposals for individuals and small businesses are also positive as these proposals provide lower tax burden by lowering the rates and permitting investment incentives. Also, enhancing the limit to Rs 1 crore small businesses presumptive taxation would make tax reporting easier for small businesses.Rahul Garg - Leader Direct Tax , PwC India Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
