Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TDS :: articles on VAT and GST in India :: VAT RATES :: list of goods taxed at 4% :: form 3cd :: cpt :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment
 
 
« News Headlines »
 How to respond to a tax notice under section 143
 Income-tax (22nd Amendment) Rules, 2017
 All about Exports under GST
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states

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