In an interview with ETCFO, Sanjay Puri, Group CFO, WNS a business process management firm, shares his reaction on Budget 2020. He feels that it’s a positive budget for his industry.“Policy to enable the private sector to build Data Centre parks will enable firms to skilfully incorporate data in every step of their value chain. Also, setting-up of Knowledge Translation Clusters across different technology sectors including new and emerging areas is a great step,” he said.On the abolishment of dividend distribution tax, he feels that from the investor’s perspective, it will be taxed in their hands and maybe at a higher rate depending upon the individual tax rate slabs. Overall, he shares that moving the tax liability from the company to the investors is in line with the global practice as no other country in the world has DDT regime. He thinks that the personal income tax is a “great step” moving towards lower tax regime and simplification (with less exemption) as it is being done for corporate tax as well. “Benefit to each individual will vary depending on the difference between low tax and rationalisation of exemption. There will be an administrative task from employer perspective to bring these… Read full this story
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