Shweta Buttan Kathuria

Public policy professional, interest in tax laws, LSR alumni, CFA, opinions are honest and personal

[US-India Strategic Partnership Forum @USISPForum]

USISPF welcomes the introduction of the Income Tax Bill, 2025, as a significant step toward modernizing India’s tax framework.

The focus on simplification, transparency, and ease of compliance is a positive move toward fostering a more efficient and business-friendly tax regime.

This bill provides an opportunity to enhance certainty for taxpayers, streamline processes, and support economic growth. As the transition unfolds, continued collaboration between policymakers and stakeholders will be key to ensuring seamless implementation and maximizing its benefits.

@nsitharaman @nsitharamanoffc @IncomeTaxIndia @FinMinIndia

[US-India Strategic Partnership Forum @USISPForum]

USISPF thanks @FinMinIndia, the Central Board of Direct Taxes (CBDT), @IncomeTaxIndia, and the Central Board of Indirect Taxes (CBIC) for introducing pivotal tax reforms that enhance India's competitiveness and accepting many recommendations of the US India Tax forum.

Key proposals like rationalizing the Customs Duty structure, strengthening the International Financial Services Centre (IFSC), streamlining transfer pricing (TP) assessments, and introducing TDS reforms will curb litigation, improve tax certainty, and enhance the ease of doing business.

As we look forward to the New Income Tax Bill, we anticipate a modern, predictable, and investment-friendly tax framework that drives economic growth and global investor confidence.

@nsitharaman @nsitharamanoffc @IncomeTaxIndia @cbic_india

[US-India Strategic Partnership Forum @USISPForum]

Ahead of #UnionBudget2025, the US-India Tax Forum, an initiative of USISPF, has developed a set of policy recommendations.

💡Policy Recommendation:

➡️Ease of Compliance

▶️Address issues under return filing
▶️ Faster refunds
▶️ Less complex audit/assessment procedures

[US-India Strategic Partnership Forum @USISPForum]

Ahead of #UnionBudget2025, the US-India Tax Forum, an initiative of USISPF, has developed a set of policy recommendations.

💡Policy Recommendation:

➡️Dispute Resolution:

▶️By improving dispute resolution mechanisms and introducing real-time demand updates, India can create a tax environment that is predictable, transparent, and efficient for global businesses.

[US-India Strategic Partnership Forum @USISPForum]

Ahead of #UnionBudget2025, the US-India Tax Forum, an initiative of USISPF has come out with a set of policy recommendations.

💡Policy Recommendation:

➡️Simplifying Tax Deduction at Source (TDS):

▶️Streamline the TDS structure to two or three rates, reducing compliance burdens and enabling businesses to focus on growth.

▶️Rationalize provisions like Sections 194Q and 206C(1H) to eliminate redundant obligations.

[US-India Strategic Partnership Forum @USISPForum]

The US-India Tax Forum was privileged to participate in the Global AEO Conference, convened by @cbic_india , with the aim of enhancing global trade partnerships through trust-building, cost reduction, and the promotion of efficient customs processes and compliance with global standards.

@FinMinIndia

[CBIC @cbic_india]

The two-day India Authorised Economic Operator (AEO) Dialogue, an international Conference, having presence of number of partner countries, was inaugurated by Sh. Sanjay Kumar Agarwal , Chairman, CBIC along with Sh. Rajiv Talwar, Member CBIC, Sh. Alok Shukla Member CBIC, Sh. Vivek Ranjan, Member CBIC and Sh. Surjit Bhujabal, Member, CBIC in presence of Mr. Hoon Sahib Soh, Head, South Asia Macroeconomics Trade & Investment, World Bank and Mr. P. K. Das, Director, @WCO_OMD , at Vigyan Bhawan, New Delhi today. The event is being organised by CBIC in collaboration with @WorldBank and includes participants from multiple trade partner countries and private sector. The deliberations will include panel discussions on the journey of India's AEO Programme, benefits to MSMEs, Mutual Recognition Arrangements, engagements with International participants and learning best practices, Risk Management, and Supply Chain Resilience.

[US-India Strategic Partnership Forum @USISPForum]

The USISPF team was profoundly honored to meet His Holiness the @DalaiLama in Dharamshala, Himachal Pradesh.

While speaking to USISPF team, His Holiness shared, “When I first came to India as a refugee, I fell in love with how religions coexist harmoniously”.

He emphasized and advocated the concept of 'Karuna,' a Sanskrit term encompassing compassion, mercy and spiritual longing, sacred in Hinduism, Buddhism, Sikhism and Jainism.

His Holiness' insights promoted fostering empathy, unity and respect for all.

We're grateful for the opportunity to meet and interact with His Holiness and the Tibetan diaspora, reaffirming our commitment to building bridges of mutual respect and shared progress.

[US-India Strategic Partnership Forum @USISPForum]

The US-India Tax Forum expresses its gratitude to the @cbic_india and the @Pharmadept for bringing out clarificatory amendments to Chapter 98 of the Customs Tariff Act, 1975.

This move will remove ambiguities pertaining to the classification of laboratory chemicals imported for the purpose of research and development.

[US-India Strategic Partnership Forum @USISPForum]

The US-India Tax forum met with Mr Ravi Agrawal,  Chairperson, Central Board of Direct Taxes, (@IncomeTaxIndia)
to express the Forum’s gratitude for key amendments proposed in #Budget2024-25.

The Forum also discussed forward looking tax reforms across corporate tax and transfer pricing regimes.

We are grateful to @NaveenA88911580 at @KPMGIndia for leading corporate tax advocacy efforts and being our knowledge partner.

[US-India Strategic Partnership Forum @USISPForum]

🌟 We are thrilled to share testimonials from our members on USISPF's Tax Forum for its successful advocacy in #Budget2024!

Chaired by Shri Tarun Bajaj, Former Revenue Secretary of the Government of India, the US-India Tax Forum was invited to present industry recommendations at the @FinMinIndia for the Union Budget 2024-25.

We are delighted to share that many of our recommendations were successfully incorporated into #Budget2024.

The US-India Tax Forum, a dedicated policy forum of USISPF, has over 350 member companies and serves as a leading platform for Government of India policymakers, global tax experts, and the business community to advocate for better tax policies, making India an attractive investment destination.

We extend our gratitude to our members and partners for their support. We will continue to advocate for better tax policies to promote the ease of doing business in India.

➡ Learn more: https://t.co/r5vVWFObFH

[US-India Strategic Partnership Forum @USISPForum]

🌟 We are delighted to share a testimonial from Renu Narvekar, Regional Tax Lead at @StanChartIN, on the USISPF's Tax Forum for its successful advocacy in #Budget2024!

The US-India Tax Forum, a dedicated tax policy forum of USISPF, boasts 350+ member companies and serves as a leading platform for Government of India policymakers, global tax experts, and the business community to advocate for better tax policies, making India an attractive investment destination.

➡️ Learn more: https://t.co/r5vVWFObFH

[US-India Strategic Partnership Forum @USISPForum]

📜 The US-India Tax Forum met with Mr. Surjit Bhujabal, Member (Customs), and other senior officials from @cbic_india. The Tax Forum presented the findings of the USISPF and @DeloitteIndia's joint report on Authorized Economic Operators (AEO).

We were delighted to be joined by industry leaders 
@Harishkrishnan and Parul Vivek from @Cisco.

The Tax Forum would like to extend its gratitude to Vijay Chauhan, Executive Director, Tax, @DeloitteIndia and to the team for their invaluable contributions to this report.

[US-India Strategic Partnership Forum @USISPForum]

"The tax rate reductions for foreign companies are poised to drive innovation, create employment opportunities, and further bolster the country's position as a global economic player.”

- Mr. Tarun Bajaj, Chairperson, US-India Tax Forum and Former Secretary, Government of India, shares his insights on #Budget2024.

[US-India Strategic Partnership Forum @USISPForum]

#Budget2024: "There is a need to simplify the tax structure and expedite dispute resolutions to make India a more attractive destination for international businesses." - Dr. @mukeshaghi speaks to @parikshitl @cnbctv18live

[US-India Strategic Partnership Forum @USISPForum]

What are the business community's expectations from Budget 2024-25?

In an interview with @CNBCTV18Live's @Parikshitl, Dr. @MukeshAghi, President and CEO of USISPF, and Shefali Goradia, Chairperson of @DeloitteIndia and Advisor, US-India Tax Forum, shared their recommendations for the upcoming Union Budget. They highlighted the need of pivotal reforms crucial for India's economic progress.

Dr. Aghi stressed the importance of simplifying the tax structure and expediting dispute resolutions to make India a more attractive destination for international businesses. "We need to simplify, expedite, and move forward," he asserted, highlighting the need for a more conducive environment for foreign investments.

He identified three key sectors with high investment potential: Global Capability Centers (GCCs), healthcare, and electronics. He noted that India is a goldmine for GCCs, which leverage Indian talent to generate significant intellectual property and exports.

Shefali Goradia emphasized the need for tax rate rationalization. She highlighted the industry's long-standing demand for streamlining tax rates, including capital gains tax and tax deduction at source (TDS). Simplifying compliance by reducing paperwork, such as eliminating the need for TDS certificates when data is already captured in other forms, would significantly enhance the ease of doing business. Goradia stressed that addressing these small but impactful asks could substantially improve the business climate.

On the specific issue of capital gains tax, Goradia highlighted the complexity of the current regime, which features multiple rates for different asset classes. She advocated for bringing parity between various categories, such as long-term and short-term assets, debt and equity, and listed versus unlisted stocks.

Learn more: https://t.co/k7u3796142

📽️ Watch full discussion: https://t.co/os1BWu85iV

[US-India Strategic Partnership Forum @USISPForum]

Dr. @MukeshAghi, President & CEO of USISPF, and Shefali Goradia, Chairperson of @DeloitteIndia, join @Parikshitl on @CNBCTV18Live to discuss pivotal reforms for India's economic progress and the business community's expectations from Budget 2024-25.

📽️: https://t.co/lKtahZXYJQ

[US-India Strategic Partnership Forum @USISPForum]

USISPF congratulates the Government of India and @FinMinIndia on 7 years of the GST regime! It's indeed noteworthy to see the law evolve over the years, reflecting the Government's dynamic reform agenda. #7yearsofGST

[Income Tax India @IncomeTaxIndia]

Shri Ravi Agrawal, IRS (IT:1988) takes over as Chairman of Central Board of Direct Taxes (CBDT) from today, July 1st, 2024.

[US-India Strategic Partnership Forum @USISPForum]

📢🎉The US-India Tax Forum, a dedicated tax policy forum of USISPF, extends its gratitude to the @GST_Council for accepting many of our recommendations at the recently held 53rd GST Council Meeting in New Delhi.

🙌We also thank @DeloitteIndia @jaising_mahesh for their support in taking forward critical issues with the @FinMinIndia.

📈🚀The recommendations of US-India Tax Forum aimed to address significant ease of doing business challenges and promote investments and economic opportunities in 🇮🇳.

✨We remain committed to building on this momentum, addressing areas for reform in GST 2.0 and advocating for better tax policies to improve the ease of doing business environment.

🔗Learn more: https://t.co/yn8mfq2sMA @cbic_india @ShwetaButtan