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: VAT Audit :: due date for vat payment :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT RATES :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd
News Headlines »
 5 Tax tasks you should complete before March 31
 March 31 deadline nears: Check out these last-minute tax-saving investment options
 How to file income tax returns online without having Form 16 in 10 simple steps
 Deadline For Filing Income Tax Return (ITR) Is Just 11 Days Away: 10 Latest Details To Know
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018

Nasscom for extending tax sops beyond 2009
December, 19th 2007
Continuation of STP scheme will help India sustain BPO sector growth, it says

Pre-Budget wish-list

Seeks broadening of the eligibility criteria for Large Tax payer Unit scheme.

Wants STP tax holiday removal for the IT sector to be linked to the signing of the totalisation agreement with the US Government.

Urges the Government to set up a mechanism for advance pricing agreements on transfer pricing issues.

Software association Nasscom today asked the Government to extend the Software Technology Park (STP) scheme and tax sops under Section 10 A/10 B for the next 10 years beyond 2009, saying the continuation of the scheme would provide a level playing field between India and other competing nations, and help sustain the growth of the BPO sector.

In its pre-Budget memorandum submitted to the Government, it said that the smaller companies were finding it difficult to rent Special Economic Zone (SEZ) space as enough capacity was not always available at the right location.

Other countries are offering big inducements to attract MNCs and Indian IT-BPO companies. These include tax holidays, free space, reimbursements of salaries and of training costs. Most also have a superior infrastructure resulting in lower operational costs, Nasscom said.

It further pointed out that the STP tax holiday removal for the IT sector (not BPO) could be linked to the signing of the totalisation agreement with the US Government. Even the Kelkar committee had recommended this. This is a substantial cost for the industry and puts Indian IT companies at a competitive disadvantage when compared to global peers, it said.

The software body also sought broadening of the eligibility criteria for Large Tax payer Unit (LTU) scheme saying that the current eligibility criteria was very restrictive, and several large IT companies employing more than 10,000 people and facilitating tax collections of several hundred crores in TDS, FBT, Input Service Tax and Customs, were not entitled to join the scheme.

Similar to the existing mechanism for issuing advance rulings to provide certainty on issues of tax interpretation and principles, we urge the Government to set up a mechanism for advance pricing agreements on transfer pricing issues. This will provide much needed tax certainty and avoid protracted litigation against transfer pricing adjustments at the field level, it said, adding that countries such as the US, Canada, Mexico, almost all European countries and China, Taiwan, Korea, Japan and Australia had this as part of their tax legislations.

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