Budget Expectations: Opinionated Polls By Aam Janta

Personal taxation expectations:

On the personal front, there are 53 percent of the respondentswho wants the govt to increase the maximum limit of income not to be considered taxable. Under the section 80 C, 70 percent of them want the budget to limit the deductions, so the amount of disposable income in the hands of individuals.

Indirect tax expectations:

Goods and Services Tax Constitutional Bill (GST) got positive response from 75 percent respondents, as this is the most awaited reform. Its introduction is considered as a revolutionary move which will India to be on par with the developed countries.

Foreign investor expectations:

Narendra Modi has already expressed his desire to bring in reforms that will impart growth of the country.  About 50 percent of the respondents are expecting that amendments are in line on applicability of tax provisions on indirect transfer of capital assets located in India to cover only prospective transactions.

The non-residents Indians are  eagerly waiting for the budget to inquire,  whether to move their funds in here or to take it out.

Real Estate Sector

During his campaign, Modi promised housing for all by 2022, so the expectations are on an all time high in the real estate sector.

 Real Estate Investment Trust (REITs) will see the light to raise the capital ensuing budget will suitably amend the tax regime.

There are at least 60% of the ones who took part in the discussion expect the government to introduce/rationalize tax incentives to achieve the government’s vision.
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