Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: TDS :: VAT RATES :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: due date for vat payment :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: TAX RATES - GOODS TAXABLE @ 4%
 
 
News Headlines »
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year

Auto Plan seeks tax sops for fast growth
January, 30th 2007

To attract $ 35-45 billion over the next 10 years, the Automotive Mission Plan (2006-16) has sought a tax holiday for investments over Rs 500 crore made by autocompanies. The Plan released by the Prime Minister on Monday also sought tax deductions of 100% of export proifts and deduction of 50% on forex earnings.

The policy paper aims at making India the destination of choice in the world for design and manufacture of auto components with output reaching a level of $ 145billion, accounting for more than 10% of the GDP and providing additional employment to 25 million peopleby 2016. The current size of the automotive sector is pegged at about $ 34 billion. A draft auto mission plan was released by the minister in September lastyear.

To achieve the ambitious goal, the industry would have to invest $ 35-40 billion over the next 10 years. Bulk of this investment will come from expansion of capacities by existing manufacturers operating in India and remaining from global multinationalcorporations seeking to make India their manufacturingbase. Besides tax holidays, the Plan also calls for a one-stop clearance for FDI proposals in the sector and deduction of 30% of net income for 10 years for newindustrial undertakings.

As in the draft AMP, the final paper also promises to promote manufacturing and export of small cars, multi utility vehicles (MUVs), two-wheelers, tractors and auto components. The paper also seeks to incentivise research and development (R&D) for product rocess and technology. Setting up of virtual special economiczones (SEZs) and auto parks for auto componentindustry has also been proposed in the AMP.To help the domestic auto industry move fast, the government would continuously invest in road, port,railways, and power. The mission plan proposes to creation of specialized port infrastructure for handling vehicle exports. The government will also draw an Auto Fuel Policy road map beyond 2010.

Among other key recommendations in the AMP are rationalization of motor vehicle regulation, , integration of information technology (IT) in manufacturing and promotion of automotive infotronics among others.

MISSION 2016
Investment of $ 35-45 in domestic auto industry over the next ten years
One stop clearance will be granted to FDI proposals
There will be 100% tax deduction on export profits

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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