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: VAT RATES :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARD :: cpt
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

Tax Benefits to Tourism Industry
July, 31st 2015

The Tourism Industry has requested the Government of India for the following fiscal benefits including tax rebate and relaxations:

i. Inclusion of tourism infrastructure like hotels/resorts/tourist lodges/banquet halls/convention and exhibition centres etc. for benefits of Section 32 AC of Income Tax Act 1961 by lowering the minimum threshold investment limit to Rs.5.00 crores.

ii. Extension of benefits under Section 35 AD of Income Tax Act 1961 to business concerns who are making capital investment in setting up of smaller category of hotels/guest houses/dharamsalas/tourist hostels/motels/wellness facilities/medical facilities and other associated infrastructure like installation of house boats/ adventure and leisure tourism facilities.

iii. Weighted deduction of 200% in line with Research & Development sectors in India for expenditure incurred towards marketing and promotional activities of the country as inbound tourism destination.

iv Establishment of special tourism zones in India.

v. Lower withholding of tax and interest paid to foreign banks or financial institutions for loan taken in tourism sector.

vi. Deduction in respect of profit and gains from taxable income for business of hotels, convention centres and other tourism specific infrastructure.

vii. Foreign exchange earning linked deduction on profits for Income Tax computation.

viii. Exemption on Service Tax from Heritage Hotels and Heritage Trains.

ix. Exemption on Service Tax on room tariff to be increased.

x. Service Tax to be exempted for unit to be set up within special tourism zones.

xi. Exemption on Service Tax on all the incidental activities or services like hotel stay, Rent a Cab, Tour Operators etc. if the main event is exempted by Government from the ambit of Service Tax.

xii. Extend CENVAT credit on the entire tourism components of Travel intermediaries on abated value (tour operators, travel agents, rent a cab operators) as against just on the same line of business.

In order to ascertain the incidence of high taxations on tourism sector and its impact in making Indian tourism industry products un-compatible, a study on Taxes levied on tourism sector vis-?-vis Export sector has been conducted, and the findings of the study have been shared with the stakeholders

This information was given by The Minister of State for Tourism (Independent Charge), Culture (Independent Charge) and Civil Aviation, Dr. Mahesh Sharma in reply to a starred question in the Rajya Sabha today.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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