Category: Financial

Budget 2019: Nirmala Sitharaman lays down policy measures to promote growth, employment generation

New Delhi: While presenting the Union Budget 2019, Finance Minister Nirmala Sitharaman highlighted that India can become a 5 trillion dollar economy in the coming years and measures to promote growth, employment generation will be highly-important for the government.

In order to achieve the targets, the following tax policy measures have been proposed:

The profit-linked deduction was introduced for start-ups.

The scope of investment-linked deduction was broadened by including certain new sectors, including infrastructure, which are critical to growth.

Investment allowance and higher additional depreciation were provided for undertakings set up in backward regions of states of Andhra Pradesh, Bihar, Telangana and West Bengal.

The incentive for employment generation was broadened and the conditions for eligibility to claim the incentive were relaxed.

The benefit was provided for computation of MAT liability and carry forward of loss for companies under Insolvency and bankruptcy code (IBC).

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