Reportedly industry bodies in Coimbatore region have welcomed the Finance minister Nirmala Sitharaman’s maiden budget, presented in Parliament on Friday for the year 2019-20, as growth-oriented. Mr. G karthikeyan, convener, Taxation Panel of Confederation of Indian Industry (CII) said, “The focus and thrust is given to agriculture, MSMEs, infrastructure and start up eco system, which will rejuvenate creation of jobs. The finance minister assured that start ups and their investors will not be subject to any tax scrutiny for value of their shares, if they file requisite declaration and it is a big relief to start up investors”.
Furthermore karthikeyan' target='_blank' title='click here to read more about karthikeyan'>karthikeyan said the PAN and Aadhar interoperability will reduce the practical difficulties and now a person with Aadhar can also file tax return without applying for PAN. Reportedly he also said, “The proposal to provide additional relief of `1.50 lakh towards interest for affordable housing loans up to `45 lakhs will not only increase investment in housing sector but also help middle class tax payer to avail `3.5 lakh as deduction for housing loan interest".
He noted, “The budget has emphasized on the development of inland waterways for cargo movement which will certainly bring down the cost of transport especially for bulk products like raw cotton”.
