You and Taxes 2016
Union Budget may address retrospective tax concernsWith retrospective taxation continuing to rile foreign investors, the Union Budget on Monday may look to address their concerns with a view to resolving the legacy issues. The government said in one of its communications to the council that merchants with more than 50% of their transactions done digitally could get a tax rebate or a 1-2% reduction in value-added tax on all electronic transactions. The industry body also demanded additional incentives for savings and higher tax allowance for expenditure on education and health, quoting findings from its Aam Aadmi survey. - Tax sops likely for startups in Budget
In order to encourage startups, especially e-commerce companies, the finance ministry may look at according beneficial tax treatment to their brand building expenses in the forthcoming Budget. According to experts, the government could allow startups to appropriate initial brand building expenses. In order to help salaried income households and encourage more women to join the work force, finance minister Arun Jaitley should announce a 10-fold increase in children education allowance and tax exemption for crèche facility in the Budget, Assocham has said. Mukesh Patel, one of TOI's experts for its annual `Budget Ho To Aisa' feature, explains how the panel's suggestions will benefit ordinary taxpayers R Radhakrishnan, Member of Parliament (Lok Sabha) on Thursday said that the Income Tax and other taxation laws should be clear and free from ambiguity.
Cheaper&Dearer
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