Budget 2015: Industry wants FDI in online retail, easier listing norms for internet cos

Clarity around definition of export turnover and total turnover for computation of tax exemption in the Budget will help resolution of tax-related disputes, said brokerage house Morgan Stanley in its report on Budget expectations of various industries. [caption id=“attachment_2079187” align=“alignleft” width=“380”] Union Finance Minister Arun Jaitley.[/caption] In addition, allowance of bilateral treaty for advanced pricing agreement should help mitigate issues around double taxation of income, the brokerage feels. Brokerage house Goldman Sachs lists FDI in online retail, easier listing norms for internet companies as the other major expectations of the industry, in addition to clarity on the tax computation.