Budget Wishlist 2008

Singam

2008-02-29T12:32:00.002+05:30

Immediate fund allocation for,

Citizen card for every Indian, High class Hospitals in all towns, Tax payers to get first class treatment in all walks of life like railway ticket booking, hotel reservation, hospitals, food ration.

singam1@gmail.com

Bluebird (India) Ltd

2008-02-29T12:19:00.002+05:30

Mr. Sontakke, CMD:

Excise duty on office stationery should be reduced.
There should be no VAT on the educational stationery. Government is taking initiations in educational sector. We are seeking this constructive change in the coming budget plan.
Raw material and paper industry is also similarly getting affected so excise duty and vat should be reduced.
harshala.nayak@adfactorspr.com
More...

ICRA Ltd

2008-02-29T12:15:00.001+05:30

Mr. P.K. Choudhury, Vice Chairman & Group CEO:

My expectations from the budget would aim at balancing the needs of equity, efficiency and future sustainability.
Prioritise indirect tax rationalization - bring Service taxes under a VAT-like framework.
Tackle inflation in primary goods, specifically agricultural products – includes Technical interventions to improve land productivity, infrastructure investments to lower transportation and handling losses.

tayyab@imatterspr.com

More...

Milestone Capital Advisors, Pvt Ltd

2008-02-29T12:10:00.002+05:30

Mr Ved Prakash Arya, MD:

Real Estate Investment Trust (REIT): REITs enjoys worldwide government support and tax benefit hence they are one of the better mechanism to hold properties and a means for the retail household to participate in the growing real estate market. FM should consider providing necessary tax break (as available world wide, and similar to mutual funds) so they became a reality rather them dream.

tayyab@imatterspr.com

More...

AbsolutData Research and Analytics

2008-02-29T12:07:00.001+05:30

Suhale Kapoor, EVP and Co-founder:
There are a number of steps that the government can take in order to help IT/BPO companies sustain the momentum gained so far, and ensure India remains the preferred global destination for providing such services. These companies - especially small and medium enterprises, are currently facing the challenges of achieving aggressive growth, along with issues of increasing infrastructure cost, finance rates, exchange losses, lack of skilled resources, attrition etc.
kavita@greycellpr.com
www.greycellpr.com
More...

S.Bhasker

2008-02-29T12:03:00.001+05:30

Our FM P Chidambaram is known for several proactive initiatives during his present and past tenures in the Government. Salaried class is the most hapless and honest taxpayers among the entire lot. More so the middle class salaried class! The rising inflation may make private sector salaries withstand the ever-increasing tax slabs. Dispensing with Standard Deduction is a major set back to the salaried class. Quite often they face the monsters in their own backyard as DDOs of their offices who lack professional acumen to understand the nuances of the bulging Income Tax Act deduct Tax more than legally due and make the staff run around IT offices seeking refund. FM should take effective steps to make this process transparent and fix timelines.

bhaskersiyer@gmail.com

More...

Pankaj Arora

2008-02-29T12:00:00.001+05:30

Govt should change One Lakh Tax relief limit
There are many reasons for increasing the income tax rebate of one lakh limit. Indian economy is growing at the GDP of above 8% now and inflation is in the range of 3-4% i.e. if one person is earning 1 lakh 3 years earlier is equivalent to approx 1.13 lakh now and keeping the minimum slab for income tax rebate of 1 lakh constant means he has to pay tax on 12 thousand means it's a increasing burden on the lower income group.

arora81@yahoo.com

pankajarora81@gmail.com

More...

M.N.Mathur and Pramila Mathur

2008-02-29T11:52:00.001+05:30

Dear Sir,

Reference to your initiative inviting suggestions for Budget 2008, I submit the following. I am a Senior Citizen aged 76 years and became NRI 18 months back. I and my wife (aged 69 years) are living with our daughter and Son-in-law here in Sydney (Australia). Circumstances forced us to seek migration as there was none to look after us in New Delhi where we had lived and We do not have a Son also. I retired from Central Govt Service in Jan 1990 and have been aGovt Pensioner since then. Being very old and keeping indifferent health, wecannot work and earn. We do not get any monetary support from the authorities here. You can visualise our problems in this highly expensive country. Since we became NRI our basic Tax Exemption has been reduced from Rs 1.85 Lacs to Rs 1.1 Lacs and TDS increased from 10.2% to 30.6%.

cpl001@bigpond.net.au

More...

S. Shyamala

2008-02-28T16:55:00.001+05:30

Raise IT and TDS exemption limit
The cost of living has skyrocketed. Total expenses to run the home have doubled in the last three years. The house-door cost of vegetables, rice, pulses, edible oils etc have risen several times. There have been exorbitant periodical spurts like brinjal being sold at Rs 40 a kilo or onion Rs 60. The festival-related inflation boosts the price of other items also like coconuts, flowers, textiles, pooja items, crackers and sweets.

pssundar@sancharnet.in

More...

Enzen Global Solutions

2008-02-28T13:24:00.003+05:30

Mr Satheesh Kumar K, CEO:
An Eco-Friendly Budget:
We want our Finance Minister to present Eco friendly budget which should provide tax reduction/ exemption on clean technologies and increase taxes on polluting and low energy efficient products. Few examples are
Reduce tax on CFL lamps, energy efficient computers, and Green building materials. Considering the rapid growth in transport sector, budget should reduce tax on low polluting, fuel efficient cars and hike road tax on low fuel efficient vehicles.

mythili@prachar.co.in

More...

Gemini Communications Ltd

2008-02-28T13:20:00.001+05:30

Mr. Ram Kumar, Founder, Director:

(a) The government must start to recognise home-grown technology & products, in comparison with their imported equivalents. There must be support coming from Government tenders for patronising it.

(b) There should be special incentives for Small & medium companies in the Electronics hardware manufacturing business.

More...

Muneer Enterprises Pvt. Ltd

2008-02-28T13:18:00.000+05:30

Mr. Aleem S Ahmed, CMD:
Exports of Iron Ore are the major exchange earner for the country. Inspite of paying export duty on Iron Ore, the industry lacks easy approach to the ports especially of the western coast like Goa, Mangalore, Karwar and Bellikeri. To reach the destination, it requires a big chunk of time to pass through so many hurdles. Many towns and cities do not have by-pass roads.
More...

Vakil Housing Development Corporation

2008-02-28T13:13:00.000+05:30

Mr. M A Vakil, CMD:
Real estate industry, is the second largest provider of employment after agriculture in India. Further, Real estate is universally acknowledged as the primary trigger of economic activity. Each rupee spent in housing generates more employment and economic activity than any other industry. We urge the FM to recognize this and accord the same consideration and treatment as other industries like software.
More...

K.A. Aparna, Chartered Accountant

2008-02-27T17:48:00.000+05:30

AN UNEQUIVOCAL TAX POLICY: A SHOT IN THE ARM FOR SEZs :

Taking a leaf from China, Special Economic Zones(SEZ) were conceived in India as a quick fix to get over the crux of lack of infrastructure, multiplicity of controls and multiple clearance requirements and an unfriendly tax policy. The sole objective was to spur growth through promotion of productive enterprises and by attracting foreign investments. Lot of tax concessions sought to be provided was expected to encourage and spur investments for accelerating the growth process. It is well known that the test of any public policy lies in its implementation.

More...

C P Velayudhan Nair

2008-02-27T17:35:00.002+05:30

Be more eco-friendly -
Every person concerned with the planning and preparation of the annual budget knows fully well that the country may have to face acute water shortage by 2020.President Kalam in his usual style used to remind us this fact occasionally .But the country is yet to take positive steps in this direction, though there are some promises here and there.
More...

Metropolis Health Service (I) Ltd

2008-02-27T14:15:00.000+05:30

Dr G.S.K Velu, Managing Director:

“The Health Care Industry has long been requesting Government of India to provide infrastructure status to this industry. Apart from that there should be special incentives and concessional interest rate should be given for hospitals & diagnostic centres being established in smaller towns & rural areas. Government should also provide special tax concessions for encouraging Public Private Partnership initiatives in the health care industry. Also, Excise Duty & VAT being charged on Medical Equipments & speciality medical consumables should be completely removed to reduce cost of diagnosis & treatment thereby making it accessible to the larger section of the society”

More...

3M Healthcare

2008-02-27T14:09:00.002+05:30

Mr. Gautam Khanna, Vice President and Head:

It is important that this Union Budget looks into the implementation aspects to make healthcare and healthcare delivery more efficient. Some of our recommendations are as follows:
To facilitate the quick movement of drugs, importation law for FDA approved drugs should be eased such that they can be freely imported out of any Indian port. This will remove the limitation of being able to import only through the 4 ports where Asst. Drug Controllers are present.

More...

H. Raghurama Pai

2008-02-27T14:08:00.001+05:30

I wish to see the 2008-09 budget as a common man's budget. Last four years' budgets were not encouraging to common man,farmers and the unemployed educated mass in the country. Of course, the high level economics theory would not have permitted the Honourable Finance Minister to take care of these groups pf people and thus the past budgets didi not help them in any way. The Minister, at least in this financial year should realise the plight of the common man, farmers and the educated unemployed youths and act in the line of the 1971-1989 years' budgets. At least reform the Banking Service recruitment Board which was abolished by the NDAregime paving way for corruptions in the employment field. Liberal norms should be re-introduced in the Bank recruitments. Give encouraging interest rates on small deposits of common man in the Banks and also of the Senior citizen in the country.

H. Ravikumar Pai

2008-02-27T14:07:00.000+05:30

The present interest rates on FPF are years old. As such the quantum of pension the pensioners get monthlyis meagre and discouraging. The Honourable Finance Minister should feel sympathy to the Senior Citizensturned pensioners and make appropriate announcements so as to get some remarkable increase in the monthlypensions the pensioners avail. It will be more helpful is the Finance Minister make pensioners-friendly regulationsin the 2008-2009 budget in the case FPF.

Probus Club of Chennai

2008-02-27T13:58:00.002+05:30

S. Ganesan, Vice President:

PROBUS CLUB OF CHENNAI is an organisation of retired and retiring citizens with about 400 members. Most of the members depend on income from pension and fixed deposits from banks. Some of the Private Sector companies have not revised the pension since the last two decades.
The rate of Interest from banks also keeps on varying depending upon several factors like PLR rates, CRR ratios etc. Further the rates vary from bank to bank.

More...

R.Gopalakrishnan

2008-02-27T13:57:00.001+05:30

The finance minister must bestow attention on macro level
1. a) To bring down the fiscal deficit and revenue deficit to level envisaged in FRBM Act especially revenue deficit which should reach zero revenue deficit by 2008-09.
b) Contain inflation by fiscal and monitory measures.
c) Ensure gainful deployment of foreign exchange reserves.
More...

N.Swaminathan

2008-02-27T13:52:00.001+05:30

I think our PC is known for complicating issues in each and every Union Budget so that his legal fraternity can be pleased. Such issues are many and to name some are MAT, FBT etc. But this time he cannot play around for the obvious reasons. His Leader has to face many State Legislative Elections in the next fiscal and also General Election immediately thereafter. But the injustice he has done to the Salary earner were many and to list the prominent ones are abolishment of Standard Deduction, Perquisite Value on concessional housing accommodation, FBT etc.

More...

R.Govindarajulu

2008-02-27T13:47:00.000+05:30

Medical & Hospital expenses ever in increasing order and senior citizens have to spare more money to take care of their health. The Medi-claim insurance policy premium is also increasing and No claim bonus is withdrawn. Any diagnostic charges paid to the recognised Hospitals to be considered for exception under the head of section 80C.

More...

DDI India Pvt Ltd

2008-02-27T13:42:00.001+05:30

D Rajiv Krishnan, Managing Director:

Announcements in relation to fringe benefit tax payable in favor of the employer will be a welcome. This could be in the direction of some exemptions if not abolishment’s. Any reduction on personal tax and service tax is always welcome.

MRO-TEK

2008-02-26T18:12:00.001+05:30

Mr. S. Narayanan, Chairman and Managing Director:

The hardware manufacturing industry is suffering from the MRP regime under which certain products are treated as a commodity when they are not. For example, leased line modems are professional products, but treated as a commodity and MRP is being applied. In cases like this, the Government should take help from able advisors and remove from MRP list.
Surcharge on IT has been kept at a high level of 10%. This has to be brought down to 5%
Dividend Distribution Tax to be brought down to 10% from 15%.

More...

GE Healthcare

2008-02-26T18:07:00.000+05:30

V Raja, CEO and President (South Asia):
1. Government should grant infrastructure industry status to healthcare as it is a key driver for the growth and development of the country. India has the potential to cement its place as one of the world’s major healthcare hubs.
2. Rationalize import duties across all medical equipments at a standard rate of 5% bringing it in line with other Asean countries and doing away with multiple rates for different equipments.
More...

M.R.Vijay Menon

2008-02-26T17:54:00.000+05:30

Agriculture is the backbone of our country and water is the life blood of agriculture operations. Himalayas is a source of water through the year. And this source must be used to supply water to the length & breadth of the country it will reduce our dependence on rains. If we can think of getting highly inflammable oil from Iran through pipe lines, why can’t we have piped water supply from Himalayas to all. This will help in solving drinking water problem also. Let us have piped water supply system parallel to railway network. Water cess may be collected to implement the scheme.

Haier Appliances India

2008-02-26T14:43:00.000+05:30

Mr. Pranay Dhabhai, COO and Whole Time Director:
Expectations this year:
We expect that if government can do some modifications in the indirect taxes or excise duty, especially for the products in the fast growing category like AC and Refs. Ultimately the benefit will be the consumer’s as the consumer will get products cheaper, which will in turn facilitate better penetration of consumer goods in the Indian market.

The consumer durables industry is expecting tax rationalization from Budget 2008, which could see an impact on product prices for consumers. We believe that demand will be back in the market after a period of lull and the economies of scale will start to kick in. The main demand of the industry from the budget is a cut in import and excise duty and correction of the inverted customs duty structure, especially with respect to the free trade agreement (FTA) with Thailand. E would also like the government to lower VAT from 12.5 % and bring it at par with the IT industry.
More...

Syndicate Bank (Kannur)

2008-02-26T13:10:00.001+05:30

K.Sreenivasan, Manager:
Do justice to the house wives:
Employed women which is only 20% of the women folk are getting income tax exemption upto Rs. 145000. But husbands of un-earning housewives are punished by giving IT exemption only upto Rs. 110000. Is this a justice that 80% of the women/family members live with the reduced income after IT deduction beyond Rs.110000? Could the finance minister liberally think about the un-remunerative House wives by giving equality to that of the employed women in the case of IT exemption at least upto the limit enjoyed by the employed women, by giving same IT basic exemption limit to their husbands at least in this budget 2008.

K A Eswaran

2008-02-26T13:08:00.000+05:30

With a view to channelising investment into priority sectors of the economy and to give impetus to the capital markets, sections 54EA and 54EB of the Income-tax Act, 1961, were introduced by the Finance Act, 1996. Under the provisions of these sections capital gains arising from the transfer of a long-term capital asset on or after 1st October, 1996, were exempted from capital gains tax if the amount of net consideration (section 54EA) or the amount of capital gain (section 54EB) is invested in certain specified assets including infrastrcuture bonds.

More...

IDG Ventures India

2008-02-26T13:03:00.005+05:30

Mr. Sudhir Sethi, Founder, Chairman & Managing Director:

Wish list or the key policy initiatives that I would like to see in Budget 2008 on the policy side would be that
India Set up a sovereign fund of $ 50 bill like China, Singapore to increase investments in domestic and foreign funds/companies and enable foreign funds to set up fund management companies in India rather than outside India; this needs a policy change. This will give a boost to foreign long term capital to come into India especially in Venture Funds which is a small portion of the total investments in India.
Outlook of the future of venture capital in the year ahead
Compared to $ 14 Bill invested in PE/VC Industry in 2007 I expect $ 18 b to $ 20 billion in 2008. The VC Industry was about $ 1 bill of the $ 14 bill in 2007; this is expected to go up by at least 50%.

komlin.hanmerpr@gmail.com

Prof V M Ponniah

2008-02-26T13:02:00.002+05:30

SMEs are playing very great role in terms of providingemployment, export , contribution to GDP. However oneshould note that all the SMEs are not runningprofitably.I Even in major industrial estates, largenumber of SMEs are found to be defunct. I suggestspecial concessions for the SMEs:

vmponniah45@yahoo.co.in

More...

Subrahmanya Bhat .K.M

2008-02-26T12:57:00.001+05:30

SOME SORT OF DEDUCTION IS REQUIRED FOR SALARIED CLASS: From the assessment Year 2006-07 Standard Deduction has been removed. There is no deduction available to the salaried class. Individuals having business have to pay income tax on their Net Income after allowing related business expenditure. For salaried class no expenditure other than house rent Allowance is permissible. Many cases a middle Class employee is not able to invest Rs 1Lakh per annuam.In the assessment years 2004-05&2005-06,if the salary does not exceed Rs 5Lakhs 40% of the salary subject to a maximum of Rs 30,000 was allowed as Standard Deduction. Finance Minister should consider some sort of deduction to the Middle class salaried people.

More...

Fractal Analytics

2008-02-25T16:34:00.001+05:30

Srikanth Velamakanni, CEO:

I am keen to see what the government is planning to do to help Indian companies fight the ill effects of an imminent US recession. With stagflation possibilities and downward movement of US interest rates, I expect some backlash on outsourcing and stiffening of the Rupee vis-à-vis the USD. The government should enable Indian companies to remain competitive by helping them reduce their own costs in such a scenario – reducing tax rates, making USD borrowing easier, reducing service tax (to help Indian companies use more outsourced services) and providing incentives for export would help Indian companies compete effectively over the short to medium term.

More...

24x7 Learning

2008-02-25T16:30:00.001+05:30

Mr. Karthik, CEO:

India is in urgent need of adopting proactive and progressive policies on education and training. As per industry surveys India is likely to face a 3.1 m talent shortage by 2010 and 1 million leadership talent shortage by the year 2015. Now is the time for the government to address India's growing skills shortage by allocating money for education and training, setting up skill development missions and partnering with Corporate India to train re-skill and up skill the great Indian workforce.

More...

Pharmaceuticals – Sector Neutral

2008-02-25T16:24:00.002+05:30

Shahina Mukadam, Analyst :

Budget expectation
· No change in Import Duty on Chemicals and Intermediates
· More capital imports allowed at confessional duty
· Infrastructure status to hospitals, guidelines to encourage public-private cooperation.
· FBT revamp likely to give relief for Physician promotion & samples

More...

General Insurance Officers All India Association (Kochi)

2008-02-25T14:29:00.002+05:30

P.P. Mohanan, General Secretary:

Do not levy tax on employees' benefits like Housing loan, Vehicle loan, PF loan etc. For helping the salaried class, the standard deduction system should be reinstated. Service tax should be abolished.

K.S.Sathyanarayana

2008-02-25T14:25:00.001+05:30

Dear F.M. Please implement the following ::
1.I.T.exemtion limit to be raised,a) From Rs.195000 to Rs 225000 for senior citizens.
b)From Rs.145000 to Rs.175000 for women.
c)From Rs.110000 to Rs.140000 for others.
2.Senior Citizens' qualifying age to be reduced from 65years to 60years.
3.Maximum investment to P.P.F.to be raised From Rs.70000 to Rs.1lac.per year.
4.Interest Rate to small savings such as Nsc;P.P.F.,etc to be raised from 8% to
9% to have a level playing field with Bank Deposits.

ks.sathyanarayana@gmail.com

Emmay HR

2008-02-25T14:21:00.001+05:30

Madhu Bhojwani, CEO:

We expect revisions in individual tax slabs and service tax rates. Giventhat global macro economic conditions will put a pressure on India'sprojected GDP growth, the Finance Minister will endeavour to create driversto spur or at least maintain buoyancy in domestic consumption at currentlevels. Balancing new job creation between services and manufacturingsectors will be key.

Xenos Technologies Ltd.

2008-02-25T14:20:00.002+05:30

Mr. Jerry, VP & COO:

Tightening the screws on the grey market operators and lowering the import duty for a level playing field. Clear cut guidelines on the taxes on the accessories need to be specified as many manufacturers are getting away with classifying the product under different heads to save on duties. For example window films on cars – some manufacturer classify it differently and pay only 4% VAT while organized companies like us pay 12.5% VAT. A big tax difference to effectively compete in the market.

sandhya@brand-comm.com

Santhosh D’Souza

2008-02-25T14:10:00.001+05:30

The Rubber Board collects a cess of Rs 1.50 per kg on rubber consumed in the country. This cess is collected through a provision made in section 12 of the Rubber Act, 1947.
The levy at the beginning was Rs.1.1 per kg and it has been progressively increased since then. The cess was levied only on the domestic rubber consumed exempting imported rubber. The cess collection has been going on for years and it could easily be over Rs 100 crores.

lifeaid@airtelbroadband.in

More...

S.C. Aggarwal

2008-02-25T14:09:00.001+05:30

Encourage debt free companies and levy corporation tax @ 25% where interest paid or payable is zero without netting and discourage companies which dont use its funds including borrowed for its own business and hence levy corporation tax @ 30% on funds (including self generated) diverted by a company into others by way of equity, loans etc. if it shows borrowed funds from Banks, FIIs etc. Amend the Income Tax Act so that in such cases in the case of companies interest claimed as expenses can also be treated as income. The above idea if implemented by the Finance Minister will result into direct tax collection of Rs.500,000 crore by 31.3.2009. This will result into a financial reforms also.

aggarwal@indiainfo.com

K.Gopalakrishnan

2008-02-25T14:06:00.002+05:30

The world economy is in doldrums. The developed world is threatened by recession. All these are mainly due to the steep oil price hike effected by the cartel of oil producing nations. All of us have allowed this cartel to have their way and we have seen this steep rise of oil from U.S $30 to U.S $100 per barrel in a span of 8 years. This means that slowly and steadily we have allowed the wealth of the non-oil exporting countries to be transferred to oil exporting countries.

saiservr@gmail.com

More...

V. Chandrasekhara Pillai

2008-02-25T14:02:00.001+05:30

I . Income from salary
Considering better Income tax collection, and increase in inflation and cost of living, minimum amount of Salary income for Income tax may be enhanced to 150000/.For women/ Senior Citizen this may be 1,75,000/and 200000/ respectively, and Tax rebate may be enhanced to 1,50,000/ The rate of tax at 30% may be applied for income above 3,00,000/ only.

chandrasekhara.pillai@gmail.com

More...

K.Venkataraman

2008-02-25T14:00:00.001+05:30

With the advent of value of the Rupee getting increased over the last one year or so and due to reduced interest rates prevailing in advanced countries particularly in USA we observe an avalanche of foreign currencies pouring in to our kitty. In order to harness the resources the Government of India may consider the following steps:
Mutual funds may be encouraged to open offices in third world countries to mobilize funds from the Non Resident Indians. It is observed presently that no such mechanism exists for individual Indians residing abroad except that investments are made feasible for large institutional investors. The Indians residing there look for such opportunities for furthering their investment portfolios in the emerging markets. shabdhaster@gmail.com

More...

Venkatesh N Muttur

2008-02-25T13:58:00.002+05:30

1 To minimise tax incidence and to provide relief to the salaried class which is the lone category with concrete evidence of taxable income a combination of steps aimed at raising IT exemption limit , lowering rates and enlarging the threshold of tax slabs be taken by the FM under personal income tax proposals to give the benifit of buoyant direct tax collections this year.

vnmuttur@gmail.com

More...

K. V. Rao

2008-02-25T13:55:00.001+05:30

Both the personal and corporate tax policies and rates should be simple. At present, both individuals and corporates are eligible for certain incentives and that makes the tax regime complex and so consultants step in. The rates should be reduced and incentives should be abolished. It may appear that incentivisation of tax system encourages certain business activity but ultimately the benefit from such an arrangement is much lesser than the cost.

More...

Siraj Mohammed

2008-02-25T13:50:00.000+05:30

Following suggestions are made for the ensuing budget of 2008-09
1. Extend the limit of Section 80 C of the Income Tax Act from one Lakh to three Lakh
2. Section 80 L exemption of Interest on Bank deposits should be restored
3. A special incentive should be given for personal expenditure made through credit or debit cards.
More...

K.Arunachalam

2008-02-25T13:49:00.000+05:30

INCOME TAX - Will Finance Minister respond to New Proposals
I expect the Finance Minister to consider my two suggestions in BUDGET 2008 Proposals
1. I am surprised to see that only 5% of population invest in Equity market directly. In order to promote equity cult and help the middle class becomes owners of good companies and make some small gains will FM divide Short term gains into two types :
a. Short term gains made from IPO allotments - which should be totall exempted from Income Tax

More...

Hansraj Bhat

2008-02-25T13:45:00.000+05:30

First of all I strongly recommend that Mr. Lalu Prasad Yadav should be our immediate Finance Minister because though he looks like a villager, he is well aware of the basic principles of economics. That is why his railway ministry is making fabulous profits since the past three years.

More...

K.V. Seetharamaiah

2008-02-25T13:40:00.000+05:30

TAX RELIEF
It is gratifying to note that the Union Finance Minister P. Chidambaram has thought of giving some relief to Income-Tax payers in the light of substantial tax collections during the past 3 years. It has been reported that the threshold limited is likely to be raised from the present Rs. 1,10,000 to Rs. 1,25,000 – Rs. 1,30,000. It would be fair if it is raised to Rs. 2,00,000.

More...

Prasanth P

2008-02-25T13:37:00.002+05:30

Social measures through Micro Credit:
When the Finance minister presumed that the growth was for given, the Central statistical Organisation has revised down the GDP growth from above 9% levels to 8.7%. With the last full fledged budget being presented by the Finance minister before the elections, he has to do the balancing act of sustaining growth and populist one. The Finance minister to please the aam admi and the coalition partners before elections would tend to allocate more funds towards social sectors like agriculture, irrigation, etc.

More...

R S Joshi

2008-02-25T13:32:00.002+05:30

Always Middle class salaried employees will be hit every year in income tax proposals. Either lower class or Very High salaried class along with business class/Professionls are benefitted in one or the other way.
These salaried Class are expected to pay ITax on every single paise they earn, since the employer will ensure the same in order to abide by the prevailing rules. Some of professionals such as Doctors(self practicing), Lawyers, Chartered Accountants, etc;are earning a lot year by year, since majority of them are maintaining four wheeler/s. Even then, such category of people are not paying Income Tax even Half of what the employees' class are paying by earning less than Half of their earnings.
rsjoshi60@yahoo.com
More...

M. Ramkumar

2008-02-24T16:03:00.003+05:30

The Cenvat Credit Rules 2004 provide common mechanism for taking input credit of central excise duty paid on raw materials(inputs) for manufacturers who are clearing their goods on payment of duty and service tax paid on input service credit for providers of taxable output services. The definition of input services is not an exhaustive one. It simply says that input services includes not only those services used directly in relation to manufacture of goods or utilized for proving out put services pertaining to and in relation to the business. A few examples have been given such as auditing, security, advertising, market research etc. The absence of broad term to include all input services may be due to certain practical difficulties. But this unintentional omission in the CCRules has lead unwanted litigations also.
mramkumar2@gmail.com
More...

CMA Ashok Vashisht

2008-02-24T16:01:00.001+05:30

The Finance Minister should consider the Inflation & the pace of growth in the various sectors of the economy for deciding & finalising the Income Tax slabs & exemptions. The ceiling as well as the investments should be increased under section 80C.The standard deduction may be restored for enabling the people to spend more for overall growth of the economy.

More...

V. Chandrasekhara Pillai

2008-02-24T15:56:00.000+05:30

There is substantial increase in Income tax revenue. during this year. The salary in IT/Private Sector is high and. Central Government may increase salary of Central Government employees. Further there is price hike for various items and increase in inflation. So the Income Tax rates and tax Rebate may be revised.
The following may be considered for Income tax.
1 Minimum amount of Salary income for Income tax may be enhanced to 150000/.For women/ Senior Citizen this may be 1,75,000/and 200000/ respectively.

More...

K.Vittal Shetty

2008-02-24T15:51:00.001+05:30

Evey year the budget evokes lots of expectations and each one of us wants concessions in one way or other.

If development has to take place, government has to spend money and this money comes by way of taxes. In order to appease the different sections of the people government is borrowing heavily and this must stop.In order to increase revenue and widen the tax base.
kohimavittal@gmail.com
More...

Mr.M.K.Muralidharan

2008-02-24T15:47:00.000+05:30

HOUSE PROPERTY INCOME :
Under Sec.24 of the Income Tax Act, 1961, interest payable, on capital borrowed for acquiring self-occupied property, not exceeding Rs,1,50,000/- is allowed as a deduction from income.
There is a strong case for disallowing this deduction in cases where the capital cost of the asset exceeds Rs.50 lacs.
The jurisprudence behind this deduction was towards the end that every person should have a roof above his head.
More...

Pramod Shrikanth D

2008-02-24T15:45:00.000+05:30

MAT needs to be scraped:
We have different tax schemes in Income Tax based on the nature of assesses, industry type, activities dealt by the assesses. But the Minimum Alternate Tax behaves like a double edged sword for companies growth. The fundamental intention of the provision is to loot the tax based on book profit when the companies do not qualify for payment of tax under the normal provisions of the Act.

More...

Ramalingam Ayyappa

2008-02-24T15:43:00.001+05:30

As a senior citizen my wish list is as under:
Taxable limit for
Senior citizen Rs 250000
Women Rs 200000
Others Rs 150000
I consider that the the above limit is reasonable in view of the present day cost of living
in the lighter vein I call the discussion in the tamilnadu assembly some 40 years ago.

More...

Sree Mookambika Textiles Pvt Ltd

2008-02-24T15:37:00.001+05:30

R.Natarajan, Executive-Finance:

Budget wish list to the Finance Minister.
1.REDUCTION OF TAX RATE FROM CURRENT LEVEL:
Reduce corporate and individual tax. From 33 % to 10% and reduce it in long run to 5% So that every citizen will contribute for the Nations development. While deciding this Do not compare with Other countries rate of Tax. Because India is having a very big population and definitely this will yield good results if effective Tax Collection mechanism is evolved.
2.PENSION BENEFIT ABOVE 60 YEARS AGE:.
Pension benefits to All above 60 years age.. Pension progressively based on individual contribution to the Government /GDP contributions made while in job/service/business.

More...

Dr.K.K.Ammannaya

2008-02-24T15:28:00.002+05:30

The union budget going to be presented on th last day of this monthby Honourable Finance Minister P.Chidambaram must adequately address the issue of economic reforms which are pending to be taken up for implementation.It is needles to say that Indian economy derived lot of strength from reforms and the rate of GDP growth incresed considerably in post-reform era.

ammannaya_kk@hotmail.com

More...

Kotak Commodity Services Ltd

2008-02-24T15:19:00.000+05:30

We expect the Union Budget 2008 to cover the below discussed expectations from
the commodity industry. We also expect that the Budget to promote growth in
agriculture and Commodity Future trading.

To allow Foreign Institutional Investors and Domestic Financial Institutions
like banks to participate in commodity derivatives. This will facilitate wider participation and development of the commodity markets. Warehouse development to be given infrastructure status. This will increase private participation and facilitate better development of the spot markets. This will also bring more transparency and liquidity in the markets.
More...

R. Ganesan

2008-02-24T15:17:00.001+05:30

(1) IT exemption limit should be raised to Rs. 2 lakhsper annum.(2) Section 80U benefit should be raised to Rs.1,00,000/- for person with disabiliy above 40% and Rs.1,50,000/- for person with severe disability (above75%).

ganesan_be@yahoo.com

More...

WeP Peripherals Limited

2008-02-24T15:12:00.002+05:30

Mr Ram.N.Agarwal, MD & CEO:

There is a growing competition from imports due to appreciating Indian Rupee. This keeps the local manufacturer on their toes. Therefore please create stability in duty structure and fiscal regime. I wish no changes in the current duty structure in PC and related IT hardware industries. With this duty structure there is a growing interest in investing in Indian hardware manufacturing industry. We should help those investors who are sitting on the sidelines by making no changes and creating a stable duty regime.
lakshmipriya@hanmerpr.com
More...

Automotive Tyre Manufacturers’ Association

2008-02-24T15:08:00.001+05:30

Dr. Raghupati Singhania, Chairman, Automotive Tyre Manufacturers’ Association (ATMA)
and Vice Chairman & Managing Director, JK Tyre & Industries Ltd.(JK Tyre):

Correction of inverted duty structure in Tyre Industry, since the custom duty on Natural Rubber, the prime raw material for tyre industry, is 20% as against the finished product, i.e. tyres, being 10% [8.6% under Regional Trade Agreement (RTA) with China and Korea]. It is suggested that the customs duty on Natural Rubber be reduced to 7.5%.

More...

Subhash Projects & Marketing Limited

2008-02-24T15:07:00.001+05:30

Mr. Subhash Sethi, Vice - Chairman:
The budget has allocated Rs. 790 billion for capital expenditure. We hope that this capital expenditure would be efficiently, effectively and expeditiously expended and that the country’s infrastructure would be raised several notches. With a considerable induction of foreign investments, dearth of public funds and private investment is no longer an issue of great concern but a major difficulty that infrastructure developers face is the high interest rate at 12 %– 13%,hence a markdown in this sphere will definitely boost infrastructure development.
jmehta@perfectrelations.com
jainimehta@gmail.com
More...

Investment Banking of Spark Capital Advisors

2008-02-24T15:03:00.001+05:30

K.Ramakrishnan, Executive Director & Head:
1. A definite road map to put the abundant foreign exchange reserves to use, in terms of

For constituting a sovereign wealth fund
For providing thrust to accelerated spend on infrastructure, specifically connecting the rural hinterland to push growth an "inclusive" of the agro sector.
2. Extending capital gains exemption in listed securities to "off-market" SEBI regulated transactions such as when shares are tendered in response to an open offer under the Takeover Code or a delisting offer under the Delisting Guidelines or a buy-back offer under the Buy-back Regulations.
More...

Religare Commodities Ltd

2008-02-24T14:59:00.000+05:30

Jayant Manglik, Head-Commodities:

The budget, and the run-up to the budget, may prove to be very significant for commodity futures trading. Several expectations have built up since last year when the Finance Minister had banned Wheat and Rice futures trading and set up a committee to look into different aspects of futures trading and their effect on spot prices. The mood in the industry is upbeat and the year 2008 has started off well with four important changes:

More...

Dr.K.G.Muthurajan

2008-02-24T14:57:00.001+05:30

Wish 1. . Wealth Tax Should be Increased to reduce the gap between poor andrich.Reason :A) The Companies and persons are calculating the net profit /takehome salary after deducting the taxes. Any other form of tax (whetherincome tax, service tax, or duties) is passsed on to the product or services which goes to general public.Thereby the poor people are affected. If you increase the wealth tax itwill affect only the rich.

More...

Alok Kumar

2008-02-24T14:54:00.002+05:30

The Union Budget to be presented on February 29, 2008 holds a lot of aspirations from the salaried class. Whatever the reports might say, the Finance Minister must do something as far as the Direct Taxes are concerned. There has been the best direct tax collection this time and could be made better provided more rationalization occurs. First of all, the zero tax limits for senior citizens should go to not less than Rs. 2.00 lakhs p a. For working women, this should be around Rs. 1.75 lakhs pa and for other salaried class it should be Rs. 1.50 lakhs pa.

More...

Karnatak Chamber of Commerce & Industry

2008-02-24T14:48:00.003+05:30

Basavaraj H. Byali, Hon. Secretary:
To micro & small income group:
It is important that the Union Budget 2008-09 should address the following areas.
The basic exemption limit should be increased to Rs.1.5 lakhs and existing slabs should be readjusted.
The Employees who cannot evade tax, under any circumstances should be allowed standard deduction and depreciation on their vehicles.
The rate of Service Tax should not be increased. Basic essentials and public utilities including E&P activities related to oil and gas, construction activities for infrastructures and rental for commercial establishments, particularly Hospitals and Health care services be exempted. Service Tax on renting of commercial property should go since it has significant implications for retail, IT/ITEs, Sectors etc.
More...

iGATE Global Solutions

2008-02-24T14:43:00.001+05:30

Mr. N. Ramachandran, Member of the Board and CFO:

“The Finance Minister should consider abolishing 10% surcharge on corporate tax and withdrawing the stiff 16.995% dividend distribution tax, which is in addition to the corporate tax of 33.99%,”
On the Indirect tax front, we hope that the service tax paid on input services for export of IT and ITES would be refunded.
“We strongly recommend the continuation of STPI Scheme beyond 2009 for software development units and BPO and Call Centre Units.

More...

Zylog Systems

2008-02-24T14:41:00.002+05:30

Mr. Sudarshan Venkatraman, Chairman & CEO:

This Budget, which will be presented by the Finance Minister, Mr. P Chidambaram before the country’s next election, due in May 2009 stands very critical as one could expect a political agenda getting dominated resulting in a popular manifesto targeted to attract the Indian public being endorsed. But the key is to wait and watch how the Finance Minister will strike a balance between the political objectives and stimulating the economic health of the country.

deepikag@hanmerpr.com

More...

Tata Sky

2008-02-24T14:36:00.001+05:30

Mr. Vikram Kaushik, MD & CEO:

For the DTH Service industry, which is an infant Industry saddled with a complex and burdensome tax structure. The end Consumer Price has a Tax Component aggregating to about 56%, which is prohibitive by any standards.
We have now completed 17 months of operations and have been constantly raising an awareness on this subject.
May we request you to urge the concerned Government Authorities that the tax structure pertaining to the DTH sector be given a fresh look and the taxation level be brought at a reasonable level compatible with other countries.

More...

Mastek Ltd

2008-02-24T14:33:00.002+05:30

Mr. Sudhakar Ram, CMD:

Expectations from the Union Budget 2008 – Mr. Sudhakar Ram, CMD, Mastek Ltd.
Commenting on his expectations for this year’s Union budget, Mr. Sudhakar Ram, Chairman & Managing Director, Mastek Ltd. said, “The government should consider exempting all software technology park units from Service Tax in the same fashion that special economic zones are exempt from the burden of Service Tax. This will act as a boon to the IT industry by easing off the load of additional tax from it”

More...

Sakhaader Khaader

2008-02-24T14:30:00.001+05:30

1. Agriculture in our country is not remunerative and the farmers are not using the advanced technologies in their farms so training should be given to them freely and subsidy culture has to done awaywith immediately the government machinery is eating the subsidy benefits and that is not reaching the people.

More...

S. Raghunatha Prabhu

2008-02-24T14:26:00.001+05:30

Standard Deduction

The Finance Minister should grant Standard Deduction to the salaried
Class. Before SD was introduced, salaried tax-payers were allowed separate deductions
For employment-related expenses such as expenditure on purchase of books,
Publications etc. for purposes of duties, traveling for the purposes of employment etc.

ramankary@sbt.co.in

More...

Helios & Matheson I.T.Ltd.

2008-02-24T14:24:00.001+05:30

Mouli, G.M (Corporate Taxation):

Hon' ble FM / Think tank of FM ::
As India Inc is riding high on global M&A crest, we on behalf of India Inc , would request you to consider the granting of following direct tax sops..
1. Dividend Income received from Foregin subsidiaries should be exempt in the hands of resident/Indian holding companies on par with dividend received from local/Indian companies.

mouli.c@heliosmatheson.com

More...

Jayakrishna Flour Mills (P) Ltd.

2008-02-24T14:21:00.002+05:30

Er. R.K. Mohan B.E., Executive Director:

Hon’ble Finance Minister,
India is predominantly an agricultural country, whose people’s main vocation is farming. As a faithful follower of Thiruvallur, you may like to lift ‘Agriculture’ from its present moribund state. Agriculture land is becoming increasingly scarce and there is ready market from the manufacturing sector at attractive prices.

jkfm@sify.com

More...

Dr M.L.Chopra

2008-02-24T14:18:00.003+05:30

Separate allocation of funds for followings:
a. Helmet use compulsory any how at any cost saves more.
b. stray animal problem
c. instantaneous repair of road damages
d. strict medical check up for drivers as for pollution
e. devlop a reflector (tape or paint) to put behind all vehicles even animals

drmlchopra@yahoo.co.in

Firstsource Solutions Limited

2008-02-24T14:16:00.001+05:30

Krishnan Akhileswaran, Head - Investor Relations:

10A/ 10B benefit should be extended for another 5 years for the BPO sector
Indian IT & BPO Industry recorded revenues of $ 39.6 billion in 2006-07 and is expected to grow to over $ 60 billion by 2009-10. The industry employs over 16 lacs direct employees and provides indirect employment to over 60 lacs. Of the 16 lacs, 6.9 lacs direct employees work in the IT Exports sector, 5.5 lacs are employed by the BPO sector and 3.8 lacs by the Domestic market.

More...

H.Sankara Raman

2008-02-24T14:06:00.001+05:30

The basic exemption limit for income tax may be raised toRs.2 lakhs..the rebate under Sn 80(c) may also be retained
Reasons; in todays constantly increasing cost of living, a monthly salary of Rs.15000 and 25000 is not all a high salary. We all will save for future whether there is tax incentive is there or not. Even if some people dont save it doest matter as such expenditure will result in growth of trade and industry and also will generate more employment.

More...

V.M. Ramkumaar

2008-02-24T14:04:00.000+05:30

Textiles:The duty structures of Cotton and Man made Fibres (PSF & VSF) should be brought in par or the duty on MMF should be reduced by atleast 4%.Duty on new textile machinery should be reduced to encourage upgradation.Insurance:Ceiling of Rs. 1 lakh per annum for rebates is very low considering today's earnings, savings and more, insurance penetration levels.

More...

H.Sankara Raman

2008-02-24T14:02:00.000+05:30

National Savings Schemes- 1987 the depositors should be allowed to make withdrawals or close the account without any obligation to pay income tax on the principal or interest for the following reasons,

1 the deposits are with Govt. for10-20 years. Though total deduction was allowed from gross income and not a rebate on tax payable, the lock-in-period is only 3 years for rebates and the scheme has locked up money 4-7 times of that period.

More...

Everonn Systems India Limited

2008-02-24T13:59:00.001+05:30

Mr. A.V.Sridhar, Vice President – Finance:

My Wish list for the Budget 2008 – 09 is much concerned with the Education sector which is one of the most prominent sectors in development of the country. Some of my Budget wish list includes
Abolition of Service tax on Education sector.
Concesssional rate of IT / Exemption of tax from the profit derived from Educational services for a period of 5 – 10 years
Interest rate cut in educational loan and banks to be more lenient in funding educational loans
Government to continue increase of allocation of funds in educational sector.
These could provide quality education at affordable price and create more employment opportunities. Moreover it enhances employability levels.

More...

Adani Enterprises Ltd

2008-02-22T16:21:00.002+05:30

C.E. Mahadevan, G.M. (Finance and Banking):

Ref : Section 195 of income tax act – deduction of tax at source
Annexure B & A - Prescribed certificate from an accountant
Covering form and application for remittance u/s 195 of the income tax.
Reference is made to the above provision and the certification thereof. Under item no. 7 of annexure b, a reference is made to suply of articles or things (e.g. plant, machinery equipment etc. ) . It is common knowledge that supply of goods including plant and machinery equipment etc. Do not attract any income tax/withholding tax.

More...

R.Ragupathy

2008-02-22T16:18:00.000+05:30

Mfunds :
Exemption from the Mandatory of PAN Nos. for small investors who are investing in MFs.
Postal Deposits :
Expecting some more bonus for Deposits and Revision of Interest rates. Because Banks are giving better interest rates than Postal deposits. So Postal Deposits are reducing day by day. This should be taken with care to improve the postal deposits in future.

More...

The Supreme Industries Ltd

2008-02-22T16:15:00.000+05:30

Mr. M.P.Taparia, Managing Director:

The structure of the plastic industry in India has evolved around the existing fiscal policies that govern the industry. As most of the plastic consumer products are reserved for small scale sector that were given fiscal sops in terms of excise duty exemption, the industry is constituted of a highly fragmented structure with a very low per capita conversion base. Below are the pre-budget expectation from Mr. M.P.Taparia, Managing Director, The Supreme Industries Ltd. for incorporation in the Union Budget 2008-09:-
1) Excise Duty to reduce from the present 16% level to a moderate level in relation to ASEAN Rates. The Excise Duty + VAT combined makes the duty incidence at 31% as compared to ASEAN Rates ranging between 15% to 17%. This is the biggest hindrance in growth of plastics consumption. With our per capita income being lower as compared to ASEAN Countries our rates should be slightly lower then ASEAN Countries and not double then rates prevailing in ASEAN Countries.

More...

ARM Rao

2008-02-22T16:08:00.000+05:30

INTRODUCTION OF POVERTY TAX

Finance Minister of India has promised that he had developed passion to prepare and present the Union Budget while giving interview to NDTV. He was so successful in bringing innovative tax nets through UPA Coalition Govt for the last 3 budget sessions and the 4th consecutive budget is under quick process, only 7 weeks are left out. In the meantime, the author is overwhelmed by the heart quelling writings of Mr Harsh Mander(The Hindu 30.12.2007), who reminded the policy makers to bring tottering point to help out the POOR.

More...

Asim Tiwari

2008-02-22T16:06:00.001+05:30

It is a platitude to say that petroleum products like Perol, Diesel, ATF, LPG etc are extremely important for Industry as well as ordinary citizens without which no one can move. Despite posturing from the Govt that it does not want to burden the common man (and usual dilly dallying in decision to increase the prices for two years) this Sector is the heaviest taxed sector.

asimtiwari@gmail.com

More...

D.S.maniam

2008-02-22T16:02:00.002+05:30

On the eve of the Budget 2008, on behalf of all the Senior Citizens of India, I would like to appeal to you, to exempt all Senior Citizens from filing Income Tax returns, and allow us to live the rest of our lives in peace with whatever savings we have.

Unlike our brothers and sisters from the public sector, most of us from the private sector do not get any pension etc. and manage our lives with whatever little savings and investments we have made. The present exemption limit is very insufficient for an aged couple to live under the present day conditions. Cost of everything is going up and up everyday. With old age coupled with numerous health problems and the cost of health care mounting, it has become very difficult for us to live peacefully and decently. Health insurance is also not available to us.
sethumaniam2004@yahoo.com
More...

Sulekha.com

2008-02-22T15:55:00.002+05:30

Mr.Satya Prabhakar, CEO:

The economic growth and prosperity of any country is enabled greatly by the breadth and depth of its communication networks. The more frictionless these networks are, the more people communicate…the more they communicate, the more they finds opportunities to transact and engage in zero-sum transactions that power economic growth. Without a doubt, at least a few points of current India’s GDP are thanks to explosion of mobile phones, good roads, airlines and trains.
Jamila.Bagdadi@sulekha.net
More...

MCX

2008-02-22T15:52:00.002+05:30

Mr. Joseph Massey, Deputy Managing Director:

Will the budget take markets to whom they belong to?
“Budget” would mean “taxes” to an individual, “tax treatment and sops” to corporates, and it would mean “many” to the commodity market participants and the ecosystem as most budgetary announcements in one way or the other affect the commodities ecosystem in terms of trading or pricing of commodities. Let us not forget here that each and every 1 billion-plus citizens of this country is a player in the commodities ecosystem given the vast array of commodities traded on the exchange platforms. This is one of the major reasons why the entire set of players in the commodities ecosystem keenly watches the budget process for the changes that it would bring into the ecosystem.

More...

S. Raghunatha Prabhu

2008-02-22T15:48:00.000+05:30

The Finance Minister should think of abolishing Personal Income-Tax. PERSONAL Income tax forms just 2 % of the total revenue. Abolishing the tax will save tax administration, the problems of tax evasion, tax return filing etc. If that is not feasible, the Exemption limit should be incresed to Rs.3,00,000.
More...

Prof. N.M.Khandelwaal

2008-02-22T15:46:00.002+05:30

DO JUSTICE TO SALARIED CLASS INCOME TAX PAYERSIf India is to become a knowledge super power through innovation, FMshould do justice to salaried class in the budget for 2008-9.1. Either revive standard Deduction with maximum limit Rs. 50,000 orgrant adequate deduction for vehicle expenses, books and journals costof continuing education, entertainment expenses.

More...

R.Sundararaj

2008-02-22T15:42:00.000+05:30

WISHES FROM SALARIED INCOME TAX PAYERS
The tax collections in general have substantially improved over the past three years and in particular in 2007-08 with buoyant tax collections. The expectations in the minds of salaried taxpayers on the moderation of tax rate is now further enhanced from the assurance of Finance Minister after his remarks on better tax collections in 2007-08.

More...

Tamilnadu Chamber of Commerce & Industry

2008-02-22T15:34:00.001+05:30

S. Rethinavelu, President:

Standard Deduction of Rs.25,000/- should be allowed for responsible assessees who look after their aged parents.
Reasons: Unlike many western countries, Social Security Schemes for aged are not provided in our country. The imperative need for caring aged parents is stressed in many forums. Our Central Govt. should come forward and offer a Standard Deduction of Rs. 25,000/- for such responsible citizens who take care of their aged parents

More...

Construction Federation of India

2008-02-22T15:27:00.002+05:30

Shri S. C. Mehta, Secretary General:

Direct Taxes:
The construction industry may be accorded the “Infrastructure Industry” status, as it is expected to account for 12% of GDP by 2012.
Under Section 35AB(2) of the Income Tax Act, a weighted deduction of the expenses incurred on in-house scientific research should also be extended to the Construction / engineering industry.
Corporate tax may exclude expenditure incurred on estabilishing training institutes and imparting training to rural/ urban unemployed youths. Companies investing in skill formation / training may be allowed to charge a higher rate of depreciation (presently 15%).

More...

Biocon Limited

2008-02-22T15:19:00.002+05:30

Kiran Mazumdar-Shaw, CMD:

In order to stimulate innovation and research and development in the biotechnology sector, we would urge the FM to look into the following:
WEIGHTED AVERAGE TAX DEDUCTION ON R&D EXPENDITURE & INCLUSION OF INTERNATIONAL PATENT FILING COSTS:
The current provision for a 150% weighted Tax deduction until March 31, for R&D expenditure incurred by DSIR recognized Research Laboratories, has been a great boon to incremental R&D investment. However these provisions for weighted deduction do not cover Agri-Biotechnology companies.
jnanda@brodeurindia.com
More...