Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: cpt :: TDS
Direct Tax »
 Filing your return may not mean the end of tax issues
 Filing tax return before March 31? Here is what you should do and what not
 CBDT invites suggestions to draft new Direct Tax Law
 Deadline For Income Tax Returns Filing Only 12 Days Away. 10 Points
 Income Tax: E-assessment ensures greater efficiency in the taxation system
 10 Points Deadline For Income Tax Returns Filing Only 2 Weeks Away.
 Income tax returns (ITR) filing: A step by step guide to check your ITR status online and offline
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds
 CBDT to conduct nationwide review of tax collection for FY18 today

New direct taxes code likely to hit PFC ops
October, 29th 2009

The new direct taxes code (DTC) is expected to hit hard the state-run Power Finance Corporation (PFC) whose cumulative sanctions crossed Rs 2 lakh crore and disbursements Rs 1 lakh crore in the fast changing Indian power sector.

PFC in its presentation to the Centre argued that provision of minimum alternative tax (MAT), withdrawal of tax exemption under special reserve, under reserve for bad debts and introduction of long-term capital gains tax would severely impact its operations and the power sector in general. Besides, over-riding provisions of double taxation treaty may increase withholding tax on interest payments on ECBs.

PFC official told FE, Implication of MAT on power projects will be quite severe as it may affect cashflow of the borrowers and consequently loan servicing ability of borrowers. The centre also needs to reconsider provisions of restricting benefit of tax exemption for infrastructure companies under section 80 (IA) and shifting the benefit of depreciation on financial lease assets from lessor to lessee."

The official informed that PFC has already taken up the matter with the power ministry and hoped that the centre may review these provisions including MAT and over riding provision of double taxation treaty agreements.

PFC, which had not gone for foreign currency loan for last two years due to economic downturn and other adverse factors, plans to raise $300 million through bond issue or syndicated loans. PFC fears that the over riding provisions of double taxation treaty may increase withholding tax on interest payments on its proposed foreign currency loan.

Mumbai-based analyst said PFC's concern is to be seen in context with the requirement of funds of over Rs 11 lakh crore in 12th plan for capacity addition of over 80,000 mw and the related transmission and distribution projects.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

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