Budget 2015: Certain Direct Tax Reforms We Wish To See
Promote SEZs by Slashing Taxes: 
Special Economic Zones were initially given boost with enough incentives which no longer are applicable. Therefore SEZs have turned into unattractive options for many businesses.
The objective with which these SEZs were set up in 2000 was to provide world class infrastructure to attract larger foreign investments, which no longer seems to happen. In the wake of ‘Make in India’ it is highly important for the government to slash MAT and DDT taxes imposed in SEZs and make them attractive economic destinations to spur business activity.
Provide more Clarity in Mergers: As per the provisions of Companies Act, 2013, merger of an Indian company with a foreign company are subject to compliance with certain conditions, although such provisions of foreign merger has not been notified yet. The tax authorities have not yet released any clarification on taxability of such outbound merger in the 2013 act which may be expected to be released in coming Union Budget.
Allow Carry-forward of Losses: We see the remarkable growth in the contribution of tertiary sector that is the service sector in the economy necessitates allowing carry-forward of losses. Sectors like Infrastructure under service sector are allowed for benefits such as carry-forward of losses, the same may be applied for all services sector.
