Industry bodies are batting for the recommendations on behalf of various Indian corporates. Suggestions were focused at promoting investments by aiding dispute resolutions, reducing litigations, rationalization of provisions, facilitating business reorganisations and ease of doing business.

Also, one of the key recommendations from the perspective of manufacturing companies was to extend the cut off date for commencement of manufacturing to say March 2025 for availing concessional tax regime under section 115BAB (Tax on income of new manufacturing domestic companies) as there could be delay in setting up of manufacturing facilities due to Covid.

#budget2022 #tax #manufacturing

Ref: ET Article