Recently the NASSCOM submitted its preferred recommendations to the Ministry of Electronics and Information Technology (MeitY) for the upcoming Union Budget 2019-20.
Apart from the suggestion based on the information technology up gradation, it focused upon some of the tax issues in India. The NASSCOM in its recommendation pressed on the TDS rate reduction to the call centres.
Also, the organization mentioned the legal complexities in the goods and services tax. The points covered were the blockage in working capital due to self-supplies, determination of the place of supply, SEZ procurements etc.
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Union budget 2019 is set to be unveiled soon and most of the bigger organization are coming up with recommendations and suggestion based upon the previous experience.
In the general budget, it is hoped that the GST concessions will see further extension while there may be an extension of income tax threshold limit up to 5 lakh from the current 2.5 lakh limit.
