Homeeconomy News

    Historically, govt has very rarely made any tax changes ahead of elections: Dhruva Advisors

    economy | IST

    Historically, govt has very rarely made any tax changes ahead of elections: Dhruva Advisors

    Mini

    Dinesh Kanabar, CEO of Dhruva Advisors and Sudhir Kapadia, National Tax Leader at EY, shared their expectations from the Budget 2019 with regards to taxes.

    Dinesh Kanabar, CEO of Dhruva Advisors and Sudhir Kapadia, National Tax Leader at EY, shared their expectations from the Budget 2019 with regards to taxes.
    "If one were to go back in history, whenever there has been a vote on account with elections just round the corner, the government has very rarely made any changes to tax laws. So, finance bill which is part of the Finance Minister’s speech becomes very insignificant in a situation like that,” said Kanabar.
    However, the government could still tinker the rate of taxes or increase the threshold limit etc.
    "What the FM could well do and which is important in engaging the market is Angel Taxation. There is nothing in law which really stops the FM from making a number of changes to the Income Tax Act. It has rarely happened in the past,” said Kanabar.
    Agreeing with Kanabar, Kapadia said, "There is nothing that prevents the FM and is in fact a good opportunity for him to say that we have introduced the GST reforms and that direct tax reforms are on the way."
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    next story

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng