HYDERABAD: As the Budget is set to be presented on February 1, online sellers are pinning a lot of hope in the present government. From the reduction in personal tax to maintaining the corporate tax, expectations are high from the Modi 2.0 government.
Rohan Bhargava, CashKaro co-founder says, "We expect the government to by all means maintain the corporate tax rate that was reduced to 22% from 30% last year. Drop in the tax rate would lead to relatively healthier cash flow within the system and enable companies to plough funds back into the business."
He adds, "Reduction in personal income tax rates should be considered as it will relax financial strain to an extent and increase the individual purchasing capacity of the taxpayers."
On Angel tax which affects the start-up ecosystem in India, Bhargava says, "We expect a waiver of Angel tax for the DPIIT registered Startups, as announced in July last year. We are also keen to see what other fiscal policies the government will introduce to stimulate credit growth and give the overall economy the much needed onward push."
He also says that the current GST structure also needs amendments so as to be more viable to the private sector.
"The government should consider making the necessary amendments in the current GST structure to make it more friendly for the private sector. It is among the critical steps towards ensuring ease of doing business and will go a long way in ascertaining compliance. It should also introduce policies that are more inclusive of the private sector and enable their participation in the upcoming mega projects (such as infrastructure). This will not only be an economically progressive step but will also bring in more transparency into the system."
CashKaro.com, is an online site which offers cashbacks and coupons for online transactions. It is founded by entrepreneur couple Swati and Rohan Bhargava in 2013.