Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: cpt :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: form 3cd :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: due date for vat payment
 
 
News Headlines »
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya

Ministers panel to resolve tax issues for IT SEZs
October, 30th 2008

An empowered group of ministers is meeting here on Thursday to find a way of removing anomalies in calculation of tax benefits for IT special economic zones, which account for bulk of the SEZs approved.

"The issue (relating to Section 10 (AA) of the Income tax Act) will be discussed by eGom. Ministers will take a decision," Commerce Secretary G K Pillai told reporters here on Wednesday.

Pillai said Section 10 (AA) needs to be amended so that the tax benefits under the SEZ Act are given without any distortion.

The section provides exemption from income tax to the SEZ units on the export income. For calculating the exemption, export turnover is divided by the total turnover of the assessee. But an assessee may have a unit outside the SEZ as well.

In the absence of change in the law, the IT SEZs promoted by most of the big groups such as Wipro, TCS, Satyam and Infosys stand to lose. Of the 531 SEZs approved, 320 are IT and ITeS units.

At its last meeting on October 24, the eGom headed by External Affairs Minister Pranab Mukherjee decided to clear Essar's steel SEZ in Hazira and Adani's port SEZ in Mundra. Both the Essar and Adani SEZs were facing objections from the Revenue Department on different counts.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions