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News Entry# 557430
Jun 23 (20:53) Bengaluru Industrialists Push for Metro Classification, Tax Relief for MSMEs in Budget 2024
Entry# 6104214   
  Past Edits
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Industrialists urge metro status for Bengaluru

Bengaluru's industrial leaders are pushing for the city to be officially designated as a 'Metro' in the upcoming Union Budget. This classification would allow employees to claim a higher percentage of their House Rent Allowance (HRA) as tax-exempt, making the city more competitive in attracting and retaining top talent. The industrialists...
more...
have also proposed a separation of Micro and Small units from Medium units within the MSME sector to enhance targeted support for these smaller businesses. They also advocated for changes in tax provisions and regulatory timelines to improve certainty and ease of doing business for MSMEs. The meeting with Finance Minister Nirmala Sitharaman was attended by representatives from FKCCI and other industry bodies.

Bengaluru ke industrial leaders chahte hain ki city ko officially 'Metro' ka status diya jaaye, yeh upcoming Union Budget mein announce ho. Isse employees apna House Rent Allowance (HRA) par zyada tax exemption claim kar payenge, aur city ko top talent attract karne mein competitive advantage milega. Industrialists ne MSME sector...
more...
mein Micro aur Small units ko Medium units se alag karne ka bhi proposal rakha hai, taaki in chhote businesses ko targeted support mil sake. Unhone tax provisions aur regulatory timelines mein changes karne ka bhi maang kiya hai, taaki MSMEs ke liye certainty aur ease of doing business badh sake. Finance Minister Nirmala Sitharaman se meeting mein FKCCI aur other industry bodies ke representatives bhi shamil the.
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