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: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: empanelment :: due date for vat payment :: articles on VAT and GST in India :: TDS :: cpt :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT RATES :: VAT Audit
 
 
VAT (Value Added Tax) »
 Haryana govt exempts solar equipment from VAT
 AP to push for same benefits under GST for VAT exempted goods
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
 Petrol prices set to rise in Goa with increase in VAT
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
 Shops cannot charge VAT on discounted items: Consumer forum
 Delhiites have to pay lowest taxes as AAP govt announces cuts on VAT on various items
 Tamil Nadu minister justifies VAT hike on fuel
 State Government urged to withdraw hike in VAT on petrol, diese
 High VAT may encourage illegal trading

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