Pre Budget expectations - Mr. Achal Bakeri, CMD, Symphony Ltd

With all eyes on GST launch, 2017 will turn out to be a historic year for indirect taxes. Recently Finance Minister Arun Jaitley said that July 1, 2017 would be a "more realistic date" to roll out GST. No doubt, this will change the whole taxation system and will make the task of estimating and filing taxes much easier. Though there are certain issues between centre and state government over processes and implementation, I hope government will redress such issues in the upcoming union budget.

The government needs to bring in simplification of tax laws. Moreover, the need of the hour is to widen the scope of taxation. We see big corporate houses as prime targets for paying taxes but at the same time we forget that a large number of taxpayers are either evading tax net or not paying appropriate taxes. Contributing to economy is everyone's responsibility and I think each and every citizen need to be responsible towards paying their taxes.

This year many corporate houses and public in general are very eager to see change in income tax slabs. Many reports suggest that to ease the pain of demonetization, government may revise minimum taxable income to Rs. 4 lakh from current Rs. 2.5 lakh per annum. If union budget come up with any such announcement, it will be cheered by the salaried and self employed class.

In addition to this, we expect the Government to lower the corporate income tax to 28% in the upcoming budget and reduce it further to 25% in coming years as promised by Finance Minister.

Ease of doing business should be the top priority for the Government.

Shares of Symphony Limited was last trading in BSE at Rs.1204 as compared to the previous close of Rs. 1204.05. The total number of shares traded during the day was 2742 in over 489 trades.

The stock hit an intraday high of Rs. 1220 and intraday low of 1189.25. The net turnover during the day was Rs. 3298465.

Source : Equity Bulls

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