Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: empanelment :: TDS :: ACCOUNTING STANDARD :: VAT Audit :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: articles on VAT and GST in India
News Headlines »
 5 Tax tasks you should complete before March 31
 March 31 deadline nears: Check out these last-minute tax-saving investment options
 How to file income tax returns online without having Form 16 in 10 simple steps
 Deadline For Filing Income Tax Return (ITR) Is Just 11 Days Away: 10 Latest Details To Know
  10 incomes you need not pay any tax on
 How To File Income Tax Returns In Three Steps By March 31, 2018
 10 things about income tax every taxpayer should know
 What to do if your TDS is not deposited with the government
 What if you forget to verify your Income Tax return?
 TDS on rent and other tax tasks to complete before March 31
 5 income tax changes which will come into effect from April 1, 2018

I-T exempts oil PSUs from tax breaks
June, 05th 2008

The income tax department on Monday exempted public sector oil refinery projects from the recent Budget provision on oil exploration and refining. The Budget had limited the seven-year tax holiday provided to commercial production or refining of mineral oil, exclusive of petroleum and natural gas under Section 80 IB of the Income tax Act.

According to the new provision, the tax holiday stands withdrawn if operations begin after April 1, 2009.

Among the projects exempted on Monday, are the refinery project of Indian Oil Corporation Ltd (IOCL) at Paradip, Bharat Oman Refineries Ltd at Bina, Madhya Pradesh, HPCL-Mittal Energy Ltd at bathinda, Oil and Natural Gas Corporation Ltd (ONGC) at Ankleshwar, Gujarat, Mangalore Refinery and Petrochemicals Ltd at Karnataka, New Visakh refinery expansion project of HPCL in Vishakapatnam, mini refinery project of ONGC at Andhra Pradesh and the Panipat refinery expansion project of IOC at Panipat. Sources said the government had asked oil PSUs to send in their specific requests for exemptions.

This will be subject to the condition that the mineral oil refinery project constitutes a separate undertaking; it begins refining of mineral oil not later than march 31, 2012; and the undertaking continues to be wholly owned by a public sector company or any other company in which a PSU holds at least 49% of the voting rights, the official notification said.

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