 "Nand Kishore, tax partner, HSA Advocates")
Budget offers bonanza for individual assessee. Income tax rate is proposed to be reduced from 10 percent to 5 percent for individuals having income between 2.5 lakh to 5 lakh. Foreign portfolio investors (category 1 and 2) are exempted from indirect transfer taxation under Section 9 of the Income Tax Act, 1961. This would boost investment in the stock market.
Budget proposes to limit amount of donation to a political party by a single source up to Rs 2000. It is a much needed move to clean Indian politics and to have free and fair elections.
Dispute resolution in infrastructure projects in
