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: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT RATES :: cpt :: form 3cd :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: list of goods taxed at 4%
General »
 Banks warn share tax hike threatens Paris' post-Brexit appeal
 PMC may decide on property tax rebate for IT firms this week
 I-T Dept is giving out certificates of appreciation. Have you received yours?
 Government works on ironing out benefits refund mechanism for exportersa
  Tax officials are using an IDS provision to question transactions beyond six-year-limit
 Tax-free bonds rally like midcap funds
 Senior citizens do not have to pay advance tax on salary and interest income
 GST: Audit commissioners to get adjudication powers
 Interest on NRE rupee account can be exempt from tax under FEMA
 Impact of GST on Real Estate Sector
 GST regime: Tax payers allowed to take option of third-party interfaces

IT industry concerned over property tax hike proposal
January, 23rd 2013

Concerned over the proposed steep upward revision of property tax on them, IT companies here are expected to meet senior state government officials within a couple of days over the issue.
The Chennai Corporation Council passed a resolution yesterday seeking to increase the property tax for IT companies ranging between 50 to 200 per cent hike.

"We have been getting calls from several IT firms and agencies since morning. We are planning to meet the Government and discuss the matter during the next two days..", a senior official of an IT industry body told PTI.
Expressing apprehensions that the move would affect the industry, the official said small companies and start up firms should be spared from such steep hike.

"The government by way of encouraging start up IT companies may relax the norms to companies whose turnover is less than Rs 5 crore..," he said.

He also said the government should ensure proper infrastructure facilities for IT companies. "It cannot be a one way process. It should be two way. If they are increasing the property tax they should ensure provision of infrastructure facilities (to IT companies)", he said.

After Bangalore, considered the country's IT capital, Chennai has a number of IT firms with several of them setting up base on the Old Mahabalipuram Road also known as the IT corridor.
According to Software Technology Parks of India, IT exports from Tamil Nadu and Puducherry reached Rs 46,791 crore in 2011-12, up 10.8 per cent from Rs 42,210 crore registered during the previous fiscal.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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