Price Waterhouse & Co LLP director Amit Mishra on Tuesday praised Union Finance Minister Arun Jaitley for focusing on key areas like waging a war on black money, popularising digitisation post-demonetisation, Make-in-India campaign and ease of doing business.
Participating in a seminar on the Union Budget organised by the zonal chapter of CII here, he said Mr. Jaitley had given thrust to take the country forward in all the four areas. He said the FM also made an earnest bid to ease the burden for the lowest strata of income-tax payers and for MSMEs by reducing tax rates.
He welcomed the abolition of Foreign Investment Promotion Board (FIPB), bringing about changes in FDI policy, launching of electoral bonds for donations to political parties, bringing about new cyber security regulations and setting up of a regulatory authority for digital payments were initiatives in the right direction, he said.
Mr. Mishra said the introduction of a mandatory late fee ranging from ₹ 5,000 to ₹ 10,000 for delayed filing of I-T returns was good initiative.
Another expert on tax and regulatory service from Price Waterhouse & Co LLP Aviroop Bhargava explained about indirect tax proposals and transfer pricing.
Commissioner of Central Excise and Customs B. Hareram said the proposals made by FM would give a great boost to digitisation campaign and achieving a cashless economy.
