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: articles on VAT and GST in India :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: empanelment :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: form 3cd :: cpt
 
 
« VAT (Value Added Tax) »
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds
  Note ban got Maharashtra govt an extra ?125cr from fuel VAT
 Note ban got Maharashtra govt an extra ?125cr from fuel VAT
 Higher tax mop up reflects no slowdown post demonetisation, says Arun Jaitley
 Traders transition from VAT to GST
 FM Arun Jaitley defends note ban with jump in tax numbers
 States record jump in VAT collections after note ban

Budget 2015 must promote digital entrepreneurship in India
February, 11th 2015

With Prime Minister Narendra Modi announcing his ambitious Digital India campaign, the Internet and Mobile Association of India (IAMAI) expects the upcoming Union Budget 2015 to promote digital entrepreneurship.

The association has recommended the government to announce policies that promote large Internet companies in the country. "Currently, there is no income-tax holiday available under the IT Act for digital companies. Incentive in the form of tax holiday would help the industry achieve its full potential by facilitating expansion, employment generation and entrepreneurship, just like in the case of telecom sector where a tax holiday was given for a period of ten years in a block of 15 years," said IAMAI in its pre-budget recommendation.

It also added that Budget 2015 must focus on creating job opportunities in the sector. "Section 80JJAA of the IT Act, inter alia, provides that an Indian company operating an industrial undertaking shall be allowed a deduction of an amount equal to 30% of additional wages paid to the new regular workmen employed by the taxpayer during a year for three years, including the year in which such employment is provided. It is recommended that a deduction of an amount equal to 150% of salary paid to new employees be allowed to companies operating in the digital industry. Further, there should be no minimum employment threshold limits that should be set as a pre-condition for claiming the said incentive. The above incentive would go a long way in employment generation and fostering entrepreneurship in digital business," the chamber added.

On the investment front, the association noted that credit availability has been a major challenge for new entrepreneurs in the sector; and hence, tax treatment must be given to investors in order to attract larger investments in the industry.

"eCommerce firms today are at a cross-road due to indirect tax issues, particularly from the state governments. IAMAI in its submission has requested the finance minister Arun Jaitley to address the anomaly and ensure for the smooth operation of market places. Also, the government should address issues related to VAT the practical difficulties of the eCommerce firms are duly consulted and considered. The current arbitrary demands on VAT and other local taxes by many states are acting as a deterrent to eCommerce sector," stated the association.

It should be noted that the apex body of the digital companies in the country has also urged the government to come up with policies to promote more local languages in order to increase the Internet penetration in the country.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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