Senior Advocate B.M. Chatterji spoke exclusively to Taxsutra on his expectations from the Union Budget 2023. He is of the view that the compliance burden under the Income-tax Act needs to be reduced and there should be relaxation in tax slabs for the salaried taxpayers apart from more avenues for tax saving investments. Given the looming global recession, he suggests that the Government should consider bringing parity in treatment of listed and unlisted equity shares for capital gain taxation and also lower the taxation to boost the foreign investment in India.
Mr. Chatterji also raises concerns about inflated IPOs vis-a-vis interest of the investors and urges the Government to take suitable measures. He is of the view that blockchain and cryptocurrency is here to stay, thus, requests the Government for a comprehensive relook at the VDA taxation regime.
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