Source:EconomicTimes

NEW DELHI: Industry chamber Assocham today suggested the government to introduce the equalisation levy as part of Indian Income Tax Act itself and not as a separate chapter in the Finance Act as it would only increase cost of doing business. 

“Introducing equalisation levy separately under Finance Act and not incorporating it as a part of the existing Income Tax Act would only increase cost of doing business for Indian companies, as foreign companies would insist that this being a dom ..