Budget 2018: Managers want Arun Jaitley to align tax cycle to calendar year

Jurisdiction-free e-assessments, gradual reduction in personal tax rates in line with changes in corporation tax and enhanced tax breaks for education of kids are among other key demands

A Deloitte survey of pre-Budget expectations of managers on personal income tax shows that most give a thumbs-up to aligning the tax year with the calendar year. Jurisdiction-free e-assessment of tax returns, a gradual reduction in personal tax rates in line with changes to the corporation tax structure and enhanced tax breaks for education of kids are among other key Budget 2018 demands from Finance Minister Arun Jaitley.

Indian managers are keen to align the tax year (April-March) with the calendar year (January-December), despite chances of initial hardships. In a survey of around 700-odd managers, a majority of respondents (84