KPMG in India- Pre Budget Survey 2015

KPMG in India through its survey, has tried to understand the expectations of India Inc. on various parameters such as policy reforms, clarity on indirect transfer tax provisions, applicability of MAT on foreign companies, amendment in the tax regime for REITs, deductions allowed to individuals, etc. Over 200senior professionals across sectors participated in the online survey held during January and early February 2015.

Key highlights of the survey:

• 83% of respondents expect the Government to introduce various policy reforms to promote the ‘Make in India’ campaign a success and turn India into a global manufacturing hub

• 40-50% respondents expect the MAT and DDT rates to be reduced

• 55% respondents are of the opinion, in line with the global benchmarking standards, multiple-year criteria for bench marking the transfer pricing transaction

• 75% responded positively to introduction of GST along with their expectation that the Budget will lay the road map for implementing the same

• 53% respondents who expect an increase in the maximum limit of income not to be considered taxable. Further, almost 70% respondents to the survey expect an increase in limit for deductions allowed under section 80C

• 60% who expect the government to introduce/rationalise tax incentives to achieve the government’s vision.

For detailed survey, click here