Abolish fringe benefit and minimum alternate taxes, say chambers
Posted on Wed Jun 03, 2009 at 12:55:39 AM EST
The Confederation of Indian Industry (CII) has asked the Finance Minister, Mr Pranab Mukherjee, to abolish several of the taxes announced by his predecessor. These include the Fringe Benefit Tax, the Minimum Alternate Tax and various surcharges and cesses. It has also recommended higher investment in infrastructure, education and health.Mr Venu Srinivasan, President, CII, also asked for the removal of the wealth tax and the commodity exchange tax. "Although the Central Sales Tax (CST) can come down to one per cent from two per cent, the current excise rates should continue till the next Budget," said Mr Srinivasan. The Finance Ministry has been divided on this last point.
Source : http://www.thehindubusinessline.com/2009/06/02/stories/2009060252060100.htm
By djain128, Section News
Posted on Wed Jun 03, 2009 at 12:55:39 AM EST
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