Nasscom bats for tax clarity in upcoming budget

India's technology industry body, Nasscom, has called on the government to focus on tax clarity for the digital economy in the upcoming Union Budget. As the tech sector continues to be a significant driver of economic growth, Nasscom emphasizes the need for a predictable and transparent tax regime to foster innovation and attract investment. This appeal highlights the industry's desire for a stable fiscal environment that enables businesses to plan long-term strategies effectively. Nasscom's request comes amid concerns about the complex and evolving tax landscape that digital companies face. With increasing reliance on technology and digital services, the industry seeks assurance from policymakers that future tax measures will not stifle growth or competitiveness. By addressing these concerns, the government could reinforce India's position as a global tech hub and enhance its appeal to foreign investors. The tech body also believes that tax certainty will support the broader digital transformation initiatives underway across various sectors. Simplified tax policies could encourage startups and established companies alike to invest in new technologies and expand their operations. As the Union Budget approaches, all eyes are on the government's response to these recommendations, which could significantly impact the digital economy's trajectory in the coming years.

— Authored by Next24 Live