ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?
  • Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily
  • Virtual Digital Assets: VDAs to attract 1% TDS from today; know what CBDT says about new norms
  • Maruti Suzuki, Ashok Leyland: What makes brokerages bullish on these auto stocks?
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » India News

Budget 2019 expectations: MSMEs demand corporate tax relief for the proprietor, partnership firm from Modi-Jaitley

Arun Jaitley had promised in his budget 2015 to cut down the corporate taxes to 25 per cent in coming four years, which he did in last year's budget. But, he restricted this relief to registered firms only

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Budget 2019 expectations: MSMEs demand corporate tax relief for the proprietor, partnership firm from Modi-Jaitley
In MSME segment; proprietor firms and partnership firms constitute around 90 per cent of the total number of MSMEs operating in India. Photo source: Reuters

The Micro, Small and Medium Entreprises (MSMEs) have demanded an extension of the corporate tax relief to proprietor and partnership firms, which is till date restricted to registered firms only. Since around 90 per cent of the MSMEs are either a partnership firm or a proprietor firm, Modi government's decision to cut down the corporate tax to 25 per cent in the last budget has failed to serve the MSMEs.

Rajeev Chawla, Chairman, IamSMEofIndia told Zee Business online, "The Finance Minister Arun Jaitley had promised in his budget 2015 to cut down the corporate taxes to 25 per cent in coming four years, which he did in last year's budget. But, he restricted this relief to registered firms only. Because of that partnership firms and proprietorship firms in the MSME segment are unable to avail this facility being given by the government of India." When asked about the percentage of such firms in the MSME segment Rajeev Chawla — who is an executive member on the expert panel board of SMEs and MSMEs ar FICCI — told, "In MSME segment; proprietor firms and partnership firms constitute around 90 per cent of the total number of MSMEs operating in India."

Agreeing with the view expressed by Rajeev Chawla; Kailash Baheti, CFO, Magma Fincorp told in a written statement, "The Finance Minister had promised reduction of corporate tax rate to 25 per cent over a 4 year period in the budget 2015, industry expects him to deliver a Corporate Tax rate to 25 per cent this year for all kinds of companies." 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
MSMECorporate Tax
Written By: Asit Manohar
Updated: Wed, Jan 16, 2019
02:07 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Statiq raises USD 25.7 mn in funding round led by Shell Ventures Statiq raises USD 25.7 mn in funding round led by Shell Ventures
PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme
Udyami Bharat Programme: PM Narendra Modi to launch several schemes on June 30 to ramp up MSME sector Udyami Bharat Programme: PM Narendra Modi to launch several schemes on June 30 to ramp up MSME sector
Google invests in Indian fintech startup Progcap Google invests in Indian fintech startup Progcap
ICICI Lombard to settle claims of up to Rs 5 lakh by MSMEs within 10 days ICICI Lombard to settle claims of up to Rs 5 lakh by MSMEs within 10 days

LATEST NEWS

Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city

IBPS Clerk Recruitment 2022: Registration begins for 6000+ vacancies at ibps.in; check direct link, last date, how to apply online and more

Toyota Hyryder unveiling event starts: Check live streaming link here

Dalal Street Corner: Market ends with marginal cuts this week; FMCG gains, Consumer Durables decline—What should investors do on Monday?

Gold Price Today: Investors with short term view must book profits now; import duty hike, rupee weakness may arrest price correction, temporarily

Food labelling rules for online food delivery platforms like Zomato, Swiggy changed from today; compliance failure to invite action

India's June factory growth at 9-month low as inflation worries bite

Why is the rupee falling? Zee Business reveals reasons

HSBC to relaunch India private banking business within a year, says India CEO

Stocks to Buy: Vikas Sethi recommends IDFC from F&O, Indo count from Cash Market; know why?

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV