New Delhi, Dec. 2 -- The PHD Chamber of Commerce and Industry (PHDCCI) has asked the union government to consider more tax reliefs, cheaper credit, better equity support, and simplifying compliance in the forthcoming budget in a bid to boost small and medium businesses.
In a set of pre-budget recommendations sent to Finance Minister Nirmala Sitharaman, on Monday night, the chamber has called for expanding capital gains tax exemption to all investments made in MSMEs.
It said Section 54 of the Income Tax Act should be amended to allow exemption on capital gains reinvested in MSME units, similar to the benefit earlier available for startups under Section 54GB.
'Section 54GB' of the Income Tax Act provides an exemption from long-term capital...