https://www.taxtmi.com/news?id=13945 Pre-budget memorandum urges broad direct tax reform: reduce corporate and unincorporated business tax rates and remove surcharge/cess; revise individual slabs and restore/enhance routine exemptions and allowances; clarify ESOP taxation to tax only on capital gains and proportionately for migrating employees; expand and clarify investment and depreciation incentives (including reclassification of certain assets and extension to new asset categories); rationalize Section 14A/Rule 8D disallowances; preserve tax neutrality for reorganisations and address anomalies in capital gains, buy-back and deemed dividend provisions; and implement practical TDS, MAT/DDT and charitable purpose reforms to reduce litigation and spur investment. en-us Sat, 14 Feb 2015 13:28:00 +0530 Fri, 20 Feb 2015 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13945 Pre-budget memorandum urges broad direct tax reform: reduce corporate and unincorporated business tax rates and remove surcharge/cess; revise individual slabs and restore/enhance routine exemptions and allowances; clarify ESOP taxation to tax only on capital gains and proportionately for migrating employees; expand and clarify investment and depreciation incentives (including reclassification of certain assets and extension to new asset categories); rationalize Section 14A/Rule 8D disallowances; preserve tax neutrality for reorganisations and address anomalies in capital gains, buy-back and deemed dividend provisions; and implement practical TDS, MAT/DDT and charitable purpose reforms to reduce litigation and spur investment. News - Sat, 14 Feb 2015 13:28:00 +0530 https://www.taxtmi.com/news?id=13945