Latest Expert Exchange Queries

Make 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) | 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: empanelment :: VAT RATES :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: form 3cd :: VAT Audit
 
 
« News Headlines »
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

Govt may not extend tax concessions
June, 28th 2010

The Union Government might not review or consider the extension of the Sunset Clause to the export-oriented units (EoUs), beyond the earlier set deadline of March 31, 2011.

There is no discussion on this (extension of sunset clause) now, it might not be considered, said Dr Rahul Khullar, Union Secretary for Commerce and Industries.

Under the current dispensation, EoUs get 100 per cent benefits under Section 10B of the Income-Tax Act, which means they do not have to pay Income Tax. Should the sunset clause come into force post March 2011, EoUs might have to start paying 33 per cent tax on profits which would translate into a price rise of 10-12 per cent on their products.

Dr Khullar was speaking at an interactive session on Direct Tax Code, organised by the Export Promotion Council for EoUs and SEZ Units, here, on Friday.

The withdrawal of sunset clause and the subsequent imposition of income tax on EoUs will add to our input costs and we will not remain competitive any longer, said Mr Rajiv Maheshwary, Vice-President-Commercial, Vision Rx Lab Private Ltd.

SEZ exports

Exports from SEZs increased to Rs 2,20,711 crore in 2009-10, from Rs 22,840 crore in 2005-06 and investments grew to Rs 1,48,488 crore as on March 31, 2010, against Rs 2,793 crore during same period in 2006, Dr Khullar said, while talking about the growth in the SEZ sector, post the enactment of the SEZ Act in June 2005.

Reacting to queries from SEZ developers on the possible threats posed by the Revised Discussion Paper on Direct Tax Code on the SEZ scheme, Dr Khullar said, I cannot go public on this at a time when we are still on the drawing board. Commenting anything on this matter at present will only be prejudging the issue. Clarity on the matter would soon emerge post the monsoon session, which was due in the next three-to-four weeks, he pointed out.

However, Mr Raman Chopra, Director, Central Board of Direct Taxes, who was also present at the interactive session, assured that all comments pertaining to the revised discussion paper on DTC would be considered and necessary amendments would be made wherever they were found to be reasonable. SEZs have developed a lot and not all of it is due to IT benefits and simply saying the withdrawal of these benefits will turn the whole growth picture around is not right, he observed.

 
 
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