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Pre Budget WishList News

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(19 Jul 2024, 14:54)

FADA urges FM to introduce benefits for individuals paying income tax by allowing them to claim vehicle depreciation


Federation of Automobile Dealers Associations or FADA has urged the Finance Ministry to introduce benefits for individuals paying income tax by allowing them to claim vehicle depreciation. 'Allowing individuals to account for depreciation will not only increase the number of income tax filers but also ignite automobile demand. FADA has also requested a reduction in corporate tax for LLPs, proprietary, and partnership firms, extending the benefits currently enjoyed by private limited companies to these entities, which form a significant part of the auto dealership community.
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