Countdown to Budget 2022

Budget 2022: In conversation with Amit Agarwal

As a measure to scale up its rank in ease of doing business, the government may consider waiving off Transfer Pricing compliance requirement for foreign companies receiving royalties, interest, and service fees.

Watch our partner Amit Agarwal, sharing Transfer Pricing expectations from Budget 2022.

Budget 2022: In conversation with Vishwas Panjiar

IBC may come up in Budget session for faster resolution, cross-border norms says Vishwas Panjiar, Partner, Nangia Andersen LLP.

According to Mr. Panjiar, an acquisition through a CIRP process is like a baptism where the troubled business gets a new life and free from most baggage. However, some of the tax baggage seems to carry on. For the acquirer, these ambiguous tax areas make it an unviable acquisition thus defeating the purpose of IBC. Relief from the contentious problems such as the tax consequences of post-CIRP loan waivers , capital gains and stamp duty on asset transfers, recipient taxation, and MAT obligations should be granted to make the process trouble-free.

Watch our partner Vishwas Panjiar, sharing Tax expectations from the IBC lens.

Budget 2022: In Conversation with Shailesh Kumar,

We speak to our partner, Shailesh Kumar on what are the common man’s expectations from Budget 2022.

According to Mr. Kumar, “The middle-class taxpayers, still reeling under the heat of reduced income levels due to pandemic effect and increased medical expenses, desperately look forward to increase in their disposable income to meet their expenses. Relief to such taxpayers may be provided by Government on many fronts, be it increasing the basic exemption limit for taxable income, reducing the tax rates (especially for income upto INR 10 lakhs), increasing the amount of standard deduction against salary income, increase in deductions allowable for life and medical insurance premiums, increase in amount of house property loss allowed against salary and other income, etc.”

Watch our partner Shailesh Kumar, sharing common man’s expectations from Budget 2022.

Budget 2022: In Conversation with Aravind Srivatsan,

We speak to our Tax Leader, Aravind Srivatsan on What is the desired booster shot for the Indian economy.

According to Mr. Srivatsan, The next decade belongs to India is the chorus of Indian leaders, the budget which weaves the economic blue print of the nation has to incorporate the aspirations of its citizens and serve as a catalyst for corporates to invest and become world class. Corporate India has seen a proliferation of digitally led business models, unicorns, push to renewables, self reliance through ATMA Nirbhar & PLI Schemes and measures to ride out of the pandemic. Budget 2022 needs to introduce policy measures which facilitate global jobs crisis to be served from India, accelerate India’s integration into the world supply chain as the exporter for the world for anything and everything & also allow corporates to invest in ESG, R&D.

Watch our Tax Leader Aravind Srivatsan, sharing expectations from Budget 2022.

Budget 2022: In Conversation with Sunil Gidwani,

According to our partner, Sunil Gidwani “Clearly there is need to bring NBFC taxation at par with Banks. Over the years, RBI has tightened NBFC regulatory framework especially for large and deposit taking NBFC and brought it close to the regulations applicable to the Banks. However, the tax laws have not kept pace and hence there are several areas in which NBFCs suffer higher tax cost or compliance burden as compared to banks. For example, their interest on NPAs is taxed on accrual basis and not on receipt basis. Their interest income suffers TDS deducted by borrowers. Interest earned by customers do not enjoy same exemption as Banks’ customers. Large cash withdrawals by them suffer newly introduced 2% TDS resulting in cash flow issues”.

Watch our partner, Sunil Gidwani, sharing Financial Sector expectations from Budget 2022.

Budget 2022: In Conversation With Sandeep Jhunjhunwala,

According to Mr. Jhunjhunwala, India Inc’s perseverance in fighting the crisis triggered by the pandemic and the recent reformist measures taken by the Government has propelled the domestic economy into a growth trajectory. However, the new virulent has extended the pressure on economic cannot be over- emphasized.

Watch our partner Sandeep Jhunjhunwala, sharing expectations from Budget 2022.

Budget 2022: In conversation with Nischal S Arora

According to Mr. Arora, Fiscal year 2021-22 has been a year of recoveries and urgent fiscal interventions. We expect fiscal year 2022-23 to be a greater challenge to sustain growth momentum. In order to prepare for an imminent stagflationary sentiment in coming fiscal year, we hope the Government continues its expansionary fiscal spending to spur growth with a cautious monetary policy to manage inflation. Industry in general and MSMEs in particular, need support by way of light touch regulations and greater fiscal stimulus.

Watch our partner Nischal S Arora, sharing regulatory expectations from Budget 2022.

“India Inc.’s expectations of Budget 2022” – Bloomberg Tax

“Budget 2022 must align tax regime for NBFCs in line with banks’ taxation” – Financial Express

“Acqui-hire arrangements – Will the Union Budget’22 give respite” – Live Mint

Budget 2022: what can make individual taxpayers happy – Neeraj Agarwala

“What to expect from Budget 2022” – Zee news

“What India Inc wants from the Budget, 2022” – ETCFO

“Budget 2022: Clarity on Tax for new age investments needed” – Financial Express

“Transfer Pricing expectations from Union Budget 2022-23” – Tax Sutra

“As supply chain crisis exacerbates, clamour for India’s own shipping line, container manufacturing grows” – Economic Times

“Budget’s key focus must be to enable the ecosystem around job, income, and demand creations” – PTI

“Industry seeks tax parity between NBFCs and banks” – Business Standard

“FM can do a lot for the salaried class” – The Hindu Business Line

“Time to introduce reforms for EV battery swapping technology” – Tax Sutra