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  1. Union Budget 2017: What Bollywood expects from Arun Jaitley’s speech

Union Budget 2017: What Bollywood expects from Arun Jaitley’s speech

Union Budget 2017: The entertainment industry hopes for taxes that will favour indie movies, reduced service tax and more.

By: | Updated: February 1, 2017 10:38 AM
What Bollywood expects from the Union Budget 2017 Bollywood has been at odds with the entertainment tax for years now and every year, after the announcement of the Union Budget, when the tax remains unchanged, the film fraternity talks about how they are sidelined by the government. This year, however, B-Town will find relief with the implementation of the Goods And Services Tax (GST). In terms of taxes, actors are just like the rest of us and are waiting anxiously for Arun Jaitley's address. Here are some of Bollywood's expectations from the Union Budget 2017. Incentives for indie films: Some actors have noted that while the high taxes can be managed by mainstream movie makers, indie films have a hard time paying these. The result is that the indie film industry isn't in an environment where it can flourish. Dia Mirza had told Hindustan Times, “Smaller films pay a big price due to the taxes imposed and despite promises to revise film service tax and cost of exhibition, there has been no revision.” Lower taxes for artists: While one usually thinks of movie stars as well paid, the entertainment industry is more than just the Bollywood big shots – whether it is the crew on a movie set or local performers in public spaces. Kailash Kher had said, “Either the government should not take tax from a performer or they should provide some support in form of security to the performer.” Reduced service tax: Some have noted that the film and TV producers are hit the worst due to the service tax and hope that it will be reduced. Filmmaker Hansal Mehta had tweeted, “Entertainment tax makes tickets expensive and service tax makes budgets higher.” Flexible tax deadlines: Unlike other industries where employees can expect a salary deposit on the first of the month, in the film industry, often people only reap the rewards of their projects months after it has been released. For this reason, some small screen producers have complained that monthly taxes need to be revised because payments are often delayed in the television business. Most Bollywood stars hope for lower taxes. (PTI/ Twitter)

Bollywood has been at odds with the entertainment tax for years now and every year, after the announcement of the Union Budget, when the tax remains unchanged, the film fraternity talks about how they are sidelined by the government. This year, however, B-Town will find relief with the implementation of the Goods And Services Tax (GST). In terms of taxes, actors are just like the rest of us and are waiting anxiously for Arun Jaitley’s address. Here are some of Bollywood’s expectations from the Union Budget 2017.

Incentives for indie films: Some actors have noted that while the high taxes can be managed by mainstream movie makers, indie films have a hard time paying these. The result is that the indie film industry isn’t in an environment where it can flourish. Dia Mirza had told Hindustan Times, “Smaller films pay a big price due to the taxes imposed and despite promises to revise film service tax and cost of exhibition, there has been no revision.”

Lower taxes for artists: While one usually thinks of movie stars as well paid, the entertainment industry is more than just the Bollywood big shots – whether it is the crew on a movie set or local performers in public spaces. Kailash Kher had said, “Either the government should not take tax from a performer or they should provide some support in form of security to the performer.”

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Reduced service tax: Some have noted that the film and TV producers are hit the worst due to the service tax and hope that it will be reduced. Filmmaker Hansal Mehta had tweeted, “Entertainment tax makes tickets expensive and service tax makes budgets higher.”

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Flexible tax deadlines: Unlike other industries where employees can expect a salary deposit on the first of the month, in the film industry, often people only reap the rewards of their projects months after it has been released. For this reason, some small screen producers have complained that monthly taxes need to be revised because payments are often delayed in the television business.

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