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Income Tax: Budget 2012 for businessmen: What relief can one expect?
2/06/2012 09:50 PM
A businessman usually expects the budget to create a favorable environment in the marketplace for him to do business. The 'feel good factor' that the budget creates in terms of boosting consumption and the multiplier effect created by planned and non-planned expenditure increases is something he looks forward to.
Union Budget 2011 had tightened tax norms for businessmen.
Pranab Mukherjee gave the following for them last year.
To tax life insurance service providers Legal representation for businesses under service tax Servcie tax on hotel accomodation above Rs 1,500 per dayMy expectation from Budget 2012 is an easing in direct taxation slabs which will amount to more surpluses in the hands of professionals and businessmen.
This can encourage and lead to further investments in SMEs and could lead to the generation of more employment and betterment of society.
Also Read: The Union Budget: What's in it for me?
However this effect could be negated by increase in
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Budget 2012
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