Although there may be no revolutionary move with respect to tax measures this Budget, Kapadia says it was very smart of the government to decrease the tax rate of the lowest slab rather than increasing the lower limit of the lowest slab from Rs 2.5 lakh to Rs 3 lakh that was widely expected.
"This is a positive move as it creates a level playing field among all jurisdictions and would help prevent arbitrage that was rampant in India," says Dinesh Kanabar, Chief Executive Officer of Dhruva Advisors.
Speaking to CNBC-TV18 Abhishek Goenka, Partner at PWC, said that long-term caital gains tax is a legitimate concern for FPIs.
The transition mechanism whereby the tax is slowly raised over three years is a measured one. It is a smooth transition, says Dinesh Kanabar, CEO, Dhruva Advisors.
In a panel discussion on CNBC-TV18, Kiran Mazumdar Shaw, CMD of Biocon said that the Finance Minister has made right investments in farming and drafted a reasonable Budget focusing on rural prosperity.
In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy; HP Ranina, Corporate Lawyer; Sudhir Kapadia of EY and Ketan Dalal, Senior Tax partner at PwC India shared their expectations from Arun Jaitely's Union Budget and their outlook on the road ahead.
The fiscal consolidation roadmap laid out by Jaitley had estimated fiscal deficit to come down to 3.9 percent in current fiscal and further to 3.5 percent next fiscal. It was 4 percent last fiscal.
In an interview to CNBC-TV18, Sudhir Kapadia, Partner & National Tax Leader, EY shares his views on MAT and its implications.
Budget 2015: Big Ideas Or Small Changes?
Sidharth Birla - President FICCI, Dhruv Sawhney – CMD, Triveni Engineering, former President CII, RC Bhargava, Chairman Maruti Suzuki, Sudhir Kapadia – National Tax Leader, E&Y in an panel discussion with CNBC-TV18s Shereen Bhan spoke about the upcoming general elections and their expectations from the new government.
Focusing on the troubled legacy for taxation from the previous budget, CNBC-TV18's special show Taxing Times, brings on the discussion board key issues like general anti-avoidance rule (GAAR) with a panel of eminent experts.
Payaswini has been talking to tax experts to better understand how Revenue hopes to use the Vodafone loss in its favor.
Form over substance, no lifting the corporate veil, legal owner is the relevant owner, a Mauritius Tax Residency Certificate is sufficient evidence of beneficial ownership- these were all well-accepted tax concepts endorsed by Circular 789 and the Supreme Court’s judgment in the Azadi Bachao Andolan.
Budget 2011 may be a great time for the government to re-energise the tax settlement commission. That's the word from tax experts, who say that facilitating greater disclosures may help the government to fight against black money stashed abroad reports, CNBC-TV18's Ashwin Mohan reports.