Topics In Demand
Notification
New

No notification found.

Blog
Union Budget 2021-22: Industry consultations

October 30, 2020

547

0

The Union Budget 2021-22 consultations by the Ministry of Finance are round the corner.  In this backdrop, NASSCOM, in partnership with Deloitte India as Knowledge Partner,  organized 2 Video Conferencing (VC) meetings (on October 8 and October 13), with the member companies to discuss  key recommendations for Union Budget 2021-22. The objective of the discussion was to deliberate on key recommendations from IT sector perspective and discussion with participants on priorities, new issues etc.

The session cumulatively witnessed participation from more than 50 participants.

NASSCOM made a presentation highlighting the issues to be included in NASSCOM’s Pre-Budget Memorandum 2021-22. Copy of the presentation is attached for your reference.

Some of the key suggestions re-iterated/ raised by the members relate to:

  1. Extension of 15% tax rate
  2. Need for clarifications on aspects related to enabling work from home
  3. Transfer pricing related issues like relaxation in critical assumptions as per terms of an executed Advance Pricing Agreement, relaxation in methodology of computing arm’s length range for current year, etc.
  4. Incentivising employment by rationalizing exemption under S. 80JJAA

Based on feedback received, we are prioritizing key issues to be raised to the Government along with the associated recommendations for the IT/ITeS sector. We shall soon be submitting NASSCOM’s Pre-Budget Memorandum 2021-22 with Ministry of Finance and MeiTY.

We will keep you posted on further developments in this regard.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Download Attachment

30373-20201013-nasscom-unionbudgetdiscussion.pdf

Tejasvi

© Copyright nasscom. All Rights Reserved.