What India Inc Wants From Budget 2013?

CII President Adi Godrej said, "We have said any increase in taxes (on rich) will create a negative perception on investment and therefore should be avoided."

To define Inheritance tax: it is the tax which is summoned on a person who inherits money or property, or a tax on the estate (total value of the money and property) of a person who has died. When one dies, the government assesses the worth of the estate of the deceased, which may include cash in the bank, investments and any other property or business owned by the deceased.

Someone from the industry chambers also said, “inheritance tax is very much a developed-economy phenomenon. Apart from Turkey, no other developing country has an inheritance tax. The common refrain was- 'Don't disturb the tax structure'.”

When asked by “Money Control” team, Kidwai also said that she is not surprised that the governor continues to be cautious because while inflation come down, the decline has not been significant. Segments like food inflation have actually gone up. However, I believe a lot of the food inflation is due to inflation in the supply side and not by demand.

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