Bombay Chamber’s Pre-Budget Memorandum 2025-26

Thursday, December 5, 2024

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Bombay Chamber’s Pre-Budget Memorandum 2025-26

November 29, 2024

Advocacy

Taxation & Accountancy

Shri Sanjay Malhotra, I.A.S.
Revenue Secretary

Department of Revenue

Ministry of Finance

Government of India

Room No.128-B, North Block

New Delhi – 110 001

 

Sir,

 

Sub: Pre-Budget Memorandum of Bombay Chamber 2025-26 (Direct Tax) for Union Budget 2025 to be presented in February 2025

 

We are happy to present herewith our Pre-Budget Memorandum on Direct Tax for the year 2025-26 for your kind consideration. These are based on inputs and suggestions received from our members. The issues and suggestions are divided into following two categories and accordingly, two documents are attached as follows :-

 

1) Part-A – Issues requiring legislative amendments

2) Part-B – Non-legislative issues which can be addressed by CBDT through amendment in Rules or issue of Notifications or Circulars

 

The suggestions made in the above documents are intended to improve the private investment ecosystem in India, provide tax certainty, address procedural challenges in tax compliances, reduce litigation and enhance ‘ease of doing business’ in India.

 

The Chamber is cognizant of the Government’s direct tax policy of moderate progressive tax rates with very few incentives & deductions with a view to keep the tax system simple and increase the tax base. The suggestions made in the attached memorandum are consistent with this policy.

 

The representatives of the Chamber would be privileged to participate in any meetings to be held with the members of your esteemed Department to explain some of the key suggestions and provide any clarifications on its suggestions made in the attached Memorandum.

 

Thanking you,

 

Yours sincerely,

 

Sandeep Khosla

Director General

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