Post-demonetisation, budget to offer tax cuts for SMEs

With the impact of demonetization on the small & medium enterprises (SMEs), Finance Minister is likely to provide tax cuts to boost the SMEs businesses that have faced the hardships in the past few months.

This year budget would likely be announced on Feb 01, 2017 and the government has time and again made its intentions clear about boosting the manufacturing sector. We have seen that in the last year’s budget of 2016 with the launch of Make in India initiative and introducing a lower tax rate at 25 percent for the manufacturing companies, if set-up and registered after March 1,