Budget 2020 Quote by Mr Sammeer Pakvasa Managing Director, Eleganz Interiors

Mr Sammeer Pakvasa Managing Director, Eleganz Interiors, states that "We are pleased with the budget proposed for FY20-21. One of the major wins is the removal of dividend tax, as this will help companies earn profits which can be redistributed to stakeholders without any tax levied on them. Previously, the Dividend tax was not taxable due to which companies had to pay their shareholders 20% on that dividend. Now, companies would be incentivised to distribute more dividends, which in turn will improve the earnings of investors and profits will also get distributed in other forms, like bonuses, holidays and more. In addition to this, custom duty has been increased on imported furniture. This would promote domestic manufacturers, as it will help boost local furniture purchase and domestic production

In addition, the budget also recognised that entrepreneurship is the spirit of India and has been its strength, this will create more opportunities, locally, for startups. Also, with the setting up of Investment clearance cell for entrepreneurs, they will be offered assistance in funding."