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: due date for vat payment :: cpt :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: articles on VAT and GST in India :: VAT RATES :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« News Headlines »
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case
 How to save income tax under section 80C

Five-year tax holiday to boost hospitality, tourism sectors
March, 07th 2008

India goes beyond the Taj Mahal This move by the Govt will boost the supply of hotel rooms and encourage tour operators to promote other destinations.


Manish Basu

The Indian hospitality and tourism industry is going to get a big boost from this years Union Budget, feel players from the sector.

The Finance Ministers decision to give a 5-year tax holiday to two-, three- and four-star hotels established in districts with UNESCO world heritage sites, may attract local players to build hotels at such places. There are 27 heritage sites in India.

Mr Suresh Kumar, President of ITCs Fortune Park Hotel, said, With local investors getting an impetus to invest in hotel construction in the sites, this will open up new business opportunities for us in hitherto uncovered locations. This will also raise intra-regional travel by increasing the number of quality overnight lodging facilities.

Costly destination

Mr Nitin Sakunia, Director, Travel Bureau, said, India is a very costly destination for foreign tourists, so far as hotel charges is considered. The new incentives will increase competition, bringing down hotel rents.

There is a serious dearth of quality hotels at UNESCO-declared heritage sites such as the Sunderbans in West Bengal, Kaziranga and Manas National Parks in Assam, and the Mahabodhi temple in Bihar, he said.

Nearly 2 lakh tourists (of which 10,000 are foreign tourists) travel to the Sunderbans, 1.5 million (8 lakh foreigners) visit Bihar, and 2 lakh tourists (70,000 foreigners) visit Assam each year, he said. But lack of accommodation restricts activity in these regions.

However, with foreign exchange companies being brought under the provision of taxation in the budget, the volume of inbound tourists will be adversely affected, Mr Sakunia said.

Commonwealth games

Prof Sandeep Kulshreshta of the Indian Institute of Tour and Travel Management, Gwalior, said the Budget announcement had come just at the right time with the Commonwealth Games scheduled to be held in Delhi in 2010. Delhi falls under the Golden Triangle along with Agra and Jaipur, which is declared as a heritage site. Foreigners coming for the event will surely want to visit those places. This new incentive will help to solve the problem of a lack of accommodation, he said.

Mr Peter Kerkar, CEO, Cox and Kings, said, India goes beyond the Taj Mahal. UNESCO-declared heritage sites like Ajanta, Ellora, the Sanchi Buddhist temples, the Hampi temples in Karnataka, and the Elephanta Caves in Maharashtra have a crying need for quality accommodation.

This move by the Government will boost the supply of hotel rooms and encourage tour operators to promote these destinations more aggressively.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 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