The government could look at providing deductions for expenses incurred by salaried employees while working from home in the upcoming Budget as it looks to boost demand, consulting firm PwC India said on Thursday. Addressing a pre-budget session, Pwc India senior tax partner Rahul Garg said demand creation is particularly focussed on money being given or left in the hands of the individuals. One clear thinking is at the level of small to medium taxpayer can we look at, in view of the COVID, a deduction to them particularly for salaried employees when they work from home. So whatever expenditure they are incurring working from home, which expenditure in the typical case would have been incurred in office by their employers if they were using offices to work if you allow that to be treated as giving them an entitlement for deduction and that saves tax for them. It will leave more money in their hands, Garg said.
Budget 2021 | Focus areas for scripting auto sector’s recovery story
India’s automobile industry has the potential to be the third-largest auto market in the world, and an important pillar for India to become a $5 trillion economy Budget reforms will play a key role in it Pramod Achuthan
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COVID-19 impacted every single industry. The Indian automobile sector, which was already facing an unparalleled slowdown, was further atrophied due to the pandemic and subsequent localised lockdowns. Carefully and cautiously, the auto sector is recovering and looks forward to Budget 2021 with anticipation of support and focus from the government, to help it sustain and strengthen its recovery.
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With 2 big ports, Gujarat sets off race for Tesla plant
Jostling has started to host the assembling or production plant of Tesla Inc, after the Elon Musk-led electric car-maker opened a research and development unit in Bengaluru ahead of hitting the road in India.
With India’s biggest ports Kandla and Mundra in Gujarat, the State is pitching for the Tesla unit.
The first indication that Gujarat will pursue Tesla aggressively came from SK Mehta, Chairman of Centre-owned Deendayal Port Trust (formerly Kandla Port Trust).
“The Smart Industrial Port City that Deendayal Port Trust is developing on more than 800 acres could be ideal for Tesla,” Mehta told BusinessLine. According to industry sources, Gujarat is on Tesla’s radar as the State has established itself as a manufacturing powerhouse for auto and auto components, which Tesla can leverage.
India has a huge potential to be a data refinery: Ravi Shankar Prasad adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.