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Industry And Corporates Are...

Happy With...

  • Corporates tax surcharge helved to 7.5%.

  • Bonanza for infrastructure and textiles.

  • Long - term capital gains tax for domestic companies cut by 10%.

  • Customs duty cut on many items like chemicals, plastic, electronics, medicines, metals, telecom equipment.

  • Non - voting share issue up to 25% of capital allowed.

  • Flls allowed to invest in unlisted companies.

  • Tax holiday for investment in irrigation,sanitation and water supply.

Unhappy With...

  • Minimum alterate tax on zero - tax companies,power and infrastructure exempt.

  • Services tax extended to advertising radio - paging and courier services.

  • Unused commercial property to be subject to wealth tax.

  • Limit of Fll investment ina single company raised from 5% to 10%.

  • No lowering of peak customs duty.

  • Opening up of insurance postponed.

  • 2% special levy on all imports.

  • Dilution of exemption for export income.
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