While a large percentage of business leaders polled seemed to be happy with steps taken to improve business climate in the country, continuing tax uncertainties was identified as a pain point.
According to CBDT proposal, sunset clauses with regards to tax exemptions will be renewed and no weighted deduction will be allowed for any specified business activity from April 1, 2017 onwards.
CNBC-TV18 along with BMR advisors has put these and several other Budget related questions to tax experts and the general public and the poll clearly indicates India wants FM to deliver a Budget that puts talk into motion and delivers on the many promises made so far.
Past precedences show that changes to indirect taxes have been declared even in an interim Budget. Though no Vote-on-Account has ever seen the introduction of any new direct tax proposals.
Rajeev Dimri, leader-indirect tax, BMR Advisors, Gokul Chaudhri, leader-direct tax, BMR Advisors, Rajya Vardhan Kanoria, CMD, Kanoria Chemicals and Industries and Vinod Verma, president, European Business Group concur that the FM must make the tax regime simple, clear and certain to boost the economy and lure FIIs.
The USD 9-billion Cairn-Vedanta deal has finally got clearance (*conditions apply) from the Cabinet Committee on Economic Affairs. And, how are experts reading this mega deal?
After ten long months of wait, the Cairn Vedanta deal has finally made it through. The Cabinet Committee on Economic Affairs (CCEA) has given a conditional approval to the USD 9 billion worth deal, accepting most of the recommendations of the Group of Ministers (GoM).
Gokul Chaudhri, Partner at BMR and Associates, in an interview on CNBC-TV18 gives his take on the entire Cairn-Vedanta debate.