Will government cut tax to spur growth in FY24?

Simplification of taxation and tariff structure, bringing parity in the tax rates, identifying sunrise industries for tax exemptions, lowering tax burden in capital markets and ease in compliance are some top of the list expectations from Finance Minister Nirmal Sitharaman in the Union Budget 2023.  The government is expected to specifically focus on new-age industries such as e-commerce, start-ups and fintechs while critical sectors like infrastructure and healthcare may also continue to be on the radar.

So, is there any scope for further cuts in corporate tax? How can the government make the new tax regime attractive?  What about taxation benefits for MSMEs and PLI schemes?

Forbes India’s Nasrin Sultana speaks to Neeru Ahuja, Partner, Deloitte India to decode and simplify this over-complex tax structure.