Reduction in corporate tax for MSMEs welcome

Vishal Gandhi, founder & director, Gandhi & Associates: Some of the positives of the budget are the reduction of the corporate rate of tax to 25 per cent for companies with a turnover of up to Rs250 crore, and the emphasis on areas such as agriculture, health, education, tackling pollution, senior citizens, etc. However, the 10-per cent long-term capital gains tax on sale of listed securities, and the introduction of tax on distributed income of equity oriented mutual funds could have been deferred.''