According to a report from the Indian Express this week, the panel appointed by the ruling Bharatiya Janata Party (BJP) is likely to urge the Indian government to retain tax breaks for companies involved in infrastructure development projects, such as road construction.
The newspaper reported that the Rajnath Singh panel held a three-hour meeting on Wednesday to consider the pros and cons of the Kelkar Committee tax reform proposals. According to unnamed sources, the BJP leaders were told that the current tax holiday must continue if infrastructure development is to remain an attractive investment.
However, according to Mr Kelkar, the government will not be able to go ahead with the abolition of dividend tax if the tax incentives in question remain in place.
'Both cannot be implemented simultaneously,' he is reported to have observed this week.
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