The New Direct Taxes Code and the Companies Bill 2009, are both, a step towards effective administration & regulation of Taxes and Company Law, respectively.

The Government surely deserves kudos for introducing these two path-breaking initiatives.

I feel, individuals and the corporates will both be in a ‘win-win situation’ due to the friendly provisions in the New Direct Taxes Code. The corporate tax rate being reduced and individual taxation base expanded are growth oriented provisions.

Reduction in and consolidation of provisions in the New Income Tax and Companies Act, were much needed and will prove to investor friendly.

The EET regime of taxation was sure to come and is in line with global practice.

I feel, the people of the nation will be left with more disposable income and this will increase spending in the economy. This will encourage people for better saving, better investments and better tax management.

Anand Wadadekar
Pune