Live
- PM Modi brought honour to Constitution: Karnataka BJP
- Did Cong sink MVA in Maharashtra? Data crunching throws up interesting details
- RCB's IPL 2025 Squad: Star Players, New Additions, and Exciting Leadership Change
- Sensex settles flat at 80,004, auto shares slide
- North Korea cuts power lines installed by South Korea
- Blood-like liquid on roads in Hyderabad’s Jeedimetla sparks panic
- Detrimental to interests of people: Priyanka Chaturvedi on delay in naming Maha CM
- Ecclestone, Sciver-Brunt gain big in ICC Women's T20I Player Rankings
- 'Scam of Rs 46,300 crore in BBMP', K'taka BJP leader files complaint with ED
- Govt’s bank guarantee waiver to cut financial burden on telcos, boost digital infra: Industry
FIEO demands for tax benefits, cut in corporate tax
Exporters' body FIEO on Tuesday urged the government to announce various measures such as employment-linked income tax benefits and set up a fund for marketing purposes to boost the country's outbound shipments in the upcoming Budget.
New Delhi: Exporters' body FIEO on Tuesday urged the government to announce various measures such as employment-linked income tax benefits and set up a fund for marketing purposes to boost the country's outbound shipments in the upcoming Budget.
Federation of Indian Export Organisations (FIEO) also demanded tax deduction on R&D investments, cut in corporate tax, reducing customs duty on capital goods which are not produced in the country, and higher budgetary allocations for the Department of Commerce.
"We would urge the government to provide income tax relief to units which provide additional employment in export sector," it said in a statement. Incentives should also be provided based on twin criteria of incremental growth in exports and workers, it added.
For small exporters, it said marketing and showcasing of their products in global markets require substantial expenditure and the current support extended through various schemes is grossly inadequate.
"We require an export development fund with a corpus of 0.5 per cent of export value, so that MSMEs aggressively participates in international exhibitions and trade shows," it said.
