Latest Expert Exchange Queries
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: list of goods taxed at 4% :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: due date for vat payment :: VAT RATES :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: articles on VAT and GST in India :: TDS :: ACCOUNTING STANDARDS :: VAT Audit
 
 
News Headlines »
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?

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 2016 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