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Below is the Views On Perspective on the announcement made by the Finance Minister on the Regulatory Relaxations | Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India
“STATUTORY AND REGULATORY COMPLIANCE BY FINANCE MINISTER”
“Regulatory relaxations given by the Finance Minister in the form of extension in timeline for filing of tax returns will provide much required reprieve to individuals and businesses in these trying times. Also measures like no late fees, penalties and interest on deferred payment for companies with turnover less than Rs 5 crores is a step in the right direction as SMEs will be severely hit by the current economic turmoil. The SMEs would also benefit from the raising of threshold for default under the IBC. While the regulatory relaxations are welcome, the industry players would be keenly awaiting broad economic stimulus package by the Finance Minister”.
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