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: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: cpt :: due date for vat payment :: VAT RATES :: form 3cd :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TDS :: VAT Audit
 
 
Direct Tax »
 GST: Renaming Central Board of Excise and Customs to CBIC may take a while
 CBDT notifies new scrutiny notices with e-facility for taxpayers
 GST is a transformational business process reform. All companies will have to change
 GST Council relaxes return filing rules for July-Aug
 Here's how self-employed individual can file tax return with ITR4
 CBDT mulling new system of jurisdiction-free I-T assessment to curb corruption
 CBDT draft notice on computing tax liability of foreign firms
 CBDT forms task force for jurisdiction-free income tax assessment system
 Aadhaar must for filing returns from July 1: CBDT
 Aadhaar mandatory for filing I-T returns and obtaining new PAN card from July 1: CBDT
 Central Board of Direct Taxes cuts profit margin for safe harbour rules

Exports from SEZs grow 15% in 2011-12
April, 28th 2012

Exports from special economic zones (SEZs) grew by 15% year-on-year to Rs 3.6 lakh crore in 2011-12, according to the data by the Export Promotion Council for EOUs and SEZs (EPCES).

During 2010-11, exports from tax-free enclaves stood at Rs 3.1 lakh crore.

"The imposition of Minimum Alternate Tax (MAT) on the book profits of SEZ developers and units has discouraged investments," EPCES Chairman Jatin R Mehta said in a statement today.
As on March 31, this year, total investments in SEZs were about Rs 2.01 lakh crore and the sector has provided employment to 8.4 lakh people, he said.

Besides, the council said major SEZ developers are concerned over the deadline for profit-linked deductions with introduction of the Direct Tax Code (DTC) from April 1, 2013.

The code, which will replace existing Indian Income Tax Act 1961, intends to cut tax rates to bring more people and companies under the tax net, phase out profit-linked exemptions for companies and replace them with investment-linked incentives.

"We request the Department of Revenue that DTC may not be implemented till 2015 in respect of SEZs as it will help in increasing exports and investments," Mehta said.

Under the SEZ Act, SEZ units get 100% tax exemption on profits earned in the first five years of operation, a 50% exemption for the next five years and another 50% exemption on re-invested profits in the following five years.

SEZ developers, on the other hand, get 100% tax exemption on profits for 10 years, which they can choose to invoke within the first 15 years of operation.

The council said of the 589 formally approved SEZs, 389 SEZs have been notified and 153 SEZs were in operation as on 31st March, 2012.

IT, IT-hardware, petroleum, engineering, leather and garments are the leading exports from the SEZs.

In the wake of uncertainties over tax sops, scores of SEZ developers were given more time to execute their project and some of them have surrendered.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

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