CA Julfesh Shah, Member of Management Accounting Committee, ICAI, New Delhi said that the Allocation of Rs.27300 crores to Industry & Commerce will lead to a better & conducive environment & setting up of Investment Clearance Cell will further facilitate & attract good scale investments in Indian industries. The subordinated debt for MSMEs & overall debt restructuring will benefit the MSME sector. Extension of time period till March 2021 is a welcome move for the affordable housing projects benefiting both the developers as well as the individuals.
Even though the Dividend Distribution Tax was scrapped, stock markets reacted negative as the taxation on dividends is passed on to the recipients.No relaxation regarding LTCG & STT on shares & securities witnessed selling pressure in the market. An array of measures for startups included seed fund, advisory cell etc. Income tax rate cuts were announced but only if you do not claim exemptions & deductions which in real sense prima facie doesn’t seem to be lucrative for the taxpayers.