MSME Body Seeks Tax Relief for Sector at IT Panel Meeting

A leading MSME organisation sought major tax reliefs for the sector at the meeting of the Select Committee of the proposed Income Tax bill on Friday, people familiar with the matter said.

- HT Correspondent

NEW DELHI:

The Federation of Indian Micro and Small & Medium Enterprises (FISME) has told the panel led by BJP lawmaker Baijayant Panda that one of the major impediments for micro enterprises to grow is an archaic law that imposes Long Term Capital Gains Tax on companies who shift factories from one state to another.