Casino Pride Goa's Shrinivas Naik Calls For Income Tax Break
As industrie🉐s and compan♏ies across India face up to the economic damage wreaked from coronavirus and the resulting lockdown, Goa-based Casino Pride director Shrinivas Naik has put forward his suggestions to the government to aid the tourism and leisure sectors.
In a letter, Naik proposed that the government should pay the entire EPF and ESIC c𒊎ontribution of all employees from the Labour welfare fund, in a🦄ddition to a three-year income tax holiday.
Naik pointed to how the worldwide tourism industry has been devastated over the past few months and, even as restriꦡctions are lifted on travel, peopl✃e will be reluctant to take breaks.
He pushed for hotel chains to take aggressive steps in marketing and promotio🎃n with the reduction of room rates, free extras and improved facilities,
Naik said: "Hence in order to reduce ove🐻rall cost of operation and increase funds for disposal in the hands of the industry, the government should provide tax holidays including MAT, for at least three ওyears beginning from FY 2020-21."
He also urged authorities to🧸 "allow the industry to pay minimum sustenance allowance to its employees during lockdown period and post lockdown period of six month🌌s."
The government should order employees, who have been taking a salary during the lockdown, to stay with their com♛pany for at least six months until April 2021.
Banks have been requested to waiv🉐e off interest on borrowed capital for six months and defer EMI for six months. Naik also called for financial service providers to provide working capital loans at a subsidised rate of interest.
Other demands from Naik are for state governments to not charge MD charges on electric𓆉ity for six months, and for the state government to step in and order internet service providers not to charge monthly lease line charges for the lockdown period.
Commenting on taxes, he asked the GST council to al🔯low input credit of all fixed expenses incurred during the lockdown period from the G♕ST payable post-lockdown.
Goa's casinos have been closed since 15 March, and there are no plans to open them soon.
