Six major govt initiatives to improve ease of doing business
As the Doing Business team of World Bank is here on a two-week mission to validate data for the upcoming Doing Business Report 2017, we look at some of the major initiatives taken by the government in the last couple of years to improve 'Ease of Doing Business' in India.
- Jul 19, 2016,
- Updated Jul 19, 2016 4:18 PM IST
As the Doing Business team of World Bank is here on a two-week mission to validate data for the upcoming Doing Business Report 2017, we look at some of the major initiatives taken by the government in the last couple of years to improve 'Ease of Doing Business' in India.
The government has accepted most of the first set of recommendations of Easwar Committee for simplification of tax laws. The most important of those being exemption to non-residents from mandatorily having a PAN for lower tax deduction at source, hiking the turnover limit for availing presumptive taxation benefits from Rs1 crore to Rs 2 crore, and deferment of Income Computation and Disclosure Standards (ICDS).
As the Doing Business team of World Bank is here on a two-week mission to validate data for the upcoming Doing Business Report 2017, we look at some of the major initiatives taken by the government in the last couple of years to improve 'Ease of Doing Business' in India.
The government has accepted most of the first set of recommendations of Easwar Committee for simplification of tax laws. The most important of those being exemption to non-residents from mandatorily having a PAN for lower tax deduction at source, hiking the turnover limit for availing presumptive taxation benefits from Rs1 crore to Rs 2 crore, and deferment of Income Computation and Disclosure Standards (ICDS).