Extend concessional tax rate of 15% to domestic infra industry, LLPs

Industry groups are proposing several direct tax measures for the Vote on Account, including extending the concessional tax rate of 15% to domestic infrastructure companies and non-corporate taxpayers like LLPs and trusts. They are also seeking exemption from withholding tax on payment of interests on overseas bonds with longer maturities, allowing carry forward and set off of business losses for the service industry, and clarification on the applicability of prerequisites.

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