Key Points
Extension of the concessional tax rate of 15% for domestic infrastructure companies and non-corporate taxpayers such as limited liability partnerships and trusts, exemption from withholding tax on payment of interests on overseas bonds having maturity period of more than five years, and allowing carry forward and set-off of business losses for services sector top the industry wish list for the interim budget for 2024-25...
Industry bodies including Assocham and PHD Chamber of Commerce and Industry want this concession to be extended to other sectors including infrastructure...
Industry bodies have sought benefits under Section 72A of the Income Tax Act, which encourages amalgamation and restructuring of a company by allowing carry forward and set-off of accumulated business losses and unabsorbed depreciation of the predecessor to the successor, to be extended to the services sector..
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