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
Latest Expert Exchange
News Headlines »
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?
 How to e-verify your income tax return? Here are five ways to do it

Scrap MAT, FBT on core sector: CII
January, 29th 2007

Industry chamber CII has asked the finance ministry to do away with the fringe benefit tax on infrastructure development companies, besides providing them with various other fiscal sops in the Budget 2007-08 to increase investment in infrastructure.

The upcoming Budget should incorporate fiscal measures to increase investment in infrastructure from the current level of 5% of GDP to 6% of GDP next fiscal, CII said in a statement here.
 
In the next five years, investment in infrastructure must go up to at least 10% of GDP, the chamber said.Infrastructure development companies should be excluded from the purview of FBT, the chamber said. Alternatively, it suggested that the percentage with respect to all the specified expenses, on whose basis FBT is levied, be reduced to 5% from up to 50% for infrastructure companies on the lines of software, pharma and construction companies.

CII also suggested exempting infrastructure companies from the Minimum Alternate Tax, saying it would improve the general status of infrastructure in the country.

MAT is the tax imposed on profit making companies, which are otherwise exempted from various taxes due to sectoral sops. The chamber said it appreciates the Governments intention to remove exemptions, but infrastructure should be provided with fiscal sops for the much-needed growth of the sector.

The chamber also prescribed bringing gas transportation and distribution projects under infrastructure to provide it fiscal sops.

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

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