Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT Audit :: TDS :: due date for vat payment :: cpt :: Central Excise rule to resale the machines to a new company :: empanelment :: form 3cd
 
 
News Headlines »
 Income-tax (22nd Amendment) Rules, 2017
 All about Exports under GST
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here

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 2017 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