Budget disappointing, says tax expert

The budget has proved to be a letdown for the corporate sector and has not been very encouraging in view of the current economic scenario, according to noted city-based corporate tax consultant JP Purohit.

The budget has proved to be a letdown for the corporate sector and has not been very encouraging in view of the current economic scenario, according to noted Delhi-based corporate tax consultant JP Purohit.

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"Even the raised exemption limit of Rs 10,000 in personal income tax is hardly any relief given the high prices in the markets, though the abolition of fringe benefit tax is a good step," Purohit observed.

Terming the budget as "overall disappointing", Purohit said the finance minister should have initiated bold measures to boost economic revival given the current circumstances and especially since the economy is on a comeback trail.