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India Inc bats for tax reforms, infra spend in Budget

A survey shows that 41% of the respondents expect that the budget would provide indirect tax incentives to make 'Make in India' campaign a success

Dev Chatterjee  |  Mumbai 

A large number of Indian corporates are expecting wide-ranging tax reforms in the forthcoming with a massive thrust to the infrastructure and defence sector, a survey of top 200 India Inc leaders conducted by Grant Thornton revealed. The will be presented this Saturday by Finance Minister Arun Jaitley.

On corporate tax amendments, an astounding 60% of the surveyed population anticipates clarity from the Finance Minister on "indirect transfers" and deferment of GAAR in the upcoming Further, almost 70% of the respondents anticipate extension of deduction under Section 80IA to cover integrated townships, smart cities. However, most of the respondents (79%) believe that corporate tax rates would largely remain unchanged.

The survey shows that 41% of the respondents expect that the budget would provide indirect tax incentives to make ‘Make in India’ campaign a success. On personal tax front, the survey reveals that an optimistic 66% of the respondents anticipate a reduction in personal income tax rates.

Do you expect radical tax reforms in the upcoming Union Budget? | Create infographics

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First Published: Tue, February 24 2015. 19:03 IST