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: cpt :: TDS :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: form 3cd :: VAT RATES :: list of goods taxed at 4%
 
 
« News Headlines »
 How will goods and service tax impact state revenues?
 Tax officers can issue certificates to avoid taking TDS from NRIs
 India is second most complex tax jurisdiction
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017

Infra firms misused tax sop, says FM
March, 09th 2007
Finance Minister P Chidambaram today defended the withdrawal of a key tax exemption for amalgamated or demerged infrastructure companies, saying the provision was being misused. 
 
Section 80-IA has been misused in the name of restructuring. Infrastructure companies have taken advantage of higher depreciation and hiving off, to take advantage of the 10-year tax holiday, Finance Minister P Chidambaram told industry leaders at a post-Budget interaction organised by Assocham. 
 
The Finance Bill, 2007, states that the Section would not apply to Indian companies undergoing amalgamation or demerger after March 31, 2007. 
 
The Section provides for a 100 per cent deduction for 10 years concerning profits and gains of certain undertakings engaged in development, operation and maintenance of infrastructure facilities, industrial parks and SEZs. 
 
According to the Sub-Section (12) of Section 80-IA, if a company getting the benefit is merged with another company within this 10-year period, the merged entity will also be eligible for the exemption. This provision will cease to apply after March 31. 
 
Chidambaram expressed dismay over the fact that no one raised issues concerning the common man, like employment and basic amenities. 
 
The economy was likely to grow close to 9 per cent in this fiscal as well the next and efforts should be made to include the 600 million people dependent on agriculture in the growth process, he said.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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