The Union Budget may not make any change in the 45-day pay rule in Income Tax law as the government has amended the Company Law order and notified new form for reporting by companies about delay in payment to micro and small enterprise suppliers. Tax and legal experts are divided over how the change will impact compliance burden for large companies.
Stakeholders in the farm sector, equally important in ensuring a robust harvest and better prices, are wondering if Finance Minister will announce something new or tweak some taxes/rates to prop up growth.
Travel agents body TAAI on Monday sought a slew of measures, including simple visa requirements and encouraging visa-free entry for tourists visiting India, rationalisation of GST rates and GST credit, and industry status for all stakeholders in the segment, among others, for the domestic travel and tourism sector.