Khushboo Sachdev, Director – Su-vastika, an EV Inverter
The Green Credit Programme which will be notified under the Environment (Protection) Act, is a great step towards behavioral change. This will incentivize environmentally sustainable and responsive actions by companies, individuals, and local bodies, and help mobilize additional resources for such activities. Relief in customs duty on the import of lithium-ion cells for batteries for another year is a big support.
Suresh Mansharamani (Business and IPO Coach)
As the honorable Finance minister mentioned MSMEs are growth engines of our economy, I am happy that now Micro-enterprises with a turnover of up to 2 crore and certain professionals with a turnover of up to 50 lacks can avail the benefit of presumptive taxation. Enhanced limits of ` 3 crores and ` 75 lacks respectively, to the taxpayers whose cash receipts are no more than 5 percent is also a great step in favor of MSMEs. National Apprenticeship Promotion Scheme which will provide stipend support to 47 lakh youth in three years directly is a commendable step by the government.
Basesh Gala ( Business Coach)
India’s salaried people from the middle-class section were expecting an increase in standard deduction in salary, and they received what was expected. This will benefit the salaried and middle-class people of India. Indians were paying the highest personal income tax rate which is around 42%, now it is proposed to reduce the highest surcharge rate from 37% to 25% in the new tax regime. The benefit of carrying forward losses on change of shareholding of start-ups from seven years of incorporation to ten years will benefit a lot of small businesses.
Pramod Kumar Mishra, Tax Practitioner
The slab difference of 3 lakh rupees is, in my opinion, a brilliant move by the government in this budget. Aside from this, the market is the only other factor that explains the budget; when the market rises, the budget is unquestionably phenomenal.
Durvesh Yadav (Youth Entrepreneurship)
The First Union budget of Amrit kal has brought immense happiness for young entrepreneurs as they receive tax exemptions in personal income tax as well as for their startups. The small startups and msmes have received the good news from honorable Nirmala Sitaraman today and everyone is satisfied with the budget announced. The tax slabs and the annual income tax have been revised in favor of us. The date of incorporation for income tax benefits for Start-ups from 31.3.2023 has been extended to 31.3.2024 which is also good news for budding entrepreneurs. The budget 2023 is hence supported by all.