By Aniketh Jain, CEO & Co-Founder, Solutions Infini
Our wishlist for the Union Finance Minister for the Union Budget 2017-18. Here goes:
Simplification of Taxation across the country is the biggest expectation for the companies.
Today we have many issues around the current tax regime companies which are registered the first ones targeted by tax authorities.
IT / ITeS services
Funds transfer from Headquarters from India to branch offices outside should not be taxed in India it will help the industry and improve ease of doing business.
Reduce Direct Taxes
India is an emerging economy the scale at which its operating is huge.
direct Tax should be reduced the from 30% to 25% which will help Indian companies grow and can invest in Research & Development.
Tax Deduction at Source
Reduce withholding tax rate of 10 percent to 1 Percent on payments to SMEs and Start-up software companies, given the low margins in the industry or Complete abolition of current TDS mechanism to boost growth through faster refunds.
1. India should be the New Digital Economy. We Should encourage all financial transaction under digital inclusion.
2. Encourage and support Start-up community provide them with Capital and infrastructure to solve problems across in sectors like education, agriculture & Transportation.
3. Easy of doing business with simple one window mechanism.