Budget 2014 Is Likely To Bring 10 Tax Changes
BANGALORE: The new budget is expected to bring changes in the taxation structures for both non-corporate and corporate sectors. Some areas will see huge changes whereas other areas will not have much change but can be related to the structure set by the UPA government. The union financial minister, Arun Jaitley will present the budget on the 10th of July.
The change in governance will bring a change in the budget but as of now it will be more of a plan on what will change rather than the change itself. The President of India, Pranab Mukerjee is of full faith that the Modi government will bring in great growth to the Indian economy. As far as the budget goes, the speculations in changes have already been seen with the price hike in certain sectors like railways and the fast moving goods.
The tax department will see an ease on people and commodities in hopes of raising the return income so as to fight inflation that is on the rise. More fluidity is expected in home loans, income taxes, education loans and indirect taxes. Corporate sectors will be looking to make the most of it from this budget. The budget has a lot of similarity to the then Modi governed Gujarat model in terms of development benefits.
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