There is no relaxation in income tax, and this should have been done in the case of individuals as inflation has gone up along with the cost of living post the COVID-19 pandemic, said Rajesh Khanna, President of Sindhi Chamber of Commerce.
“The surcharge paid on income tax is now not permitted as business expenditure. The 15% surcharge levied on capital long-term income is an unhealthy feature,” he added.
On the positive side, he said infrastructure expenditure was being increased substantially, which will create employment opportunities and boost the economy.
‘5G spectrum auction’
V.L. Indira Dutt, President of the Andhra Chamber of Commerce, said the auctioning of 5G spectrum and its proposed rollout in 2023 was a great move towards an effective, faster sharing of data and economic growth.
