According to CNBC-TV18 the tax experts this time around do not expect exemptions but hope for more clarity on existing policies from the Budget.
The 2016 Budget is expected to usher in a new landscape for tax policies on both the direct and indirect front.
However, according to CNBC-TV18's Navin Shetty and Areeb Sherwani while tax experts do not expect exemptions this time around, they hope for clarity on existing policies will come through.
Finance Minister Arun Jaitley carries a lot of hope as he prepares to present Budget 2016. These range from lower corporate tax, to a reduction in central sales tax rate, to a slash in excise duty on motor vehicles. But tax experts wnat more clarity on the existing tax regime to remove uncertainty and attract investments is the need of the hour.
The key areas that need clarity include:
- The general anti-avoidance rule
- The implementing of a few action plans from BEPS or base erosion and profit shifting programme.
- Further, tax experts are also betting on the implementation of the eswar panel's recommendations, especially with respect to the raising of tds threshold limits for various incomes levels.
Watch video for the detailed reportThe Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Feb 24, 2016 10:02 pm