Abolition of MAT during tax holiday period: Infrastructure company avail tax holiday benefit under 80-IA. Given long gestation and criticality of infrastructure, they are given a 10 year tax holiday. However, it is basically an exemption from paying income tax on the profits and paying MAT on book profits. So, whatever the projects are supposed to have conserved through the 80-IA benefits are being taken away by the MAT levy.
Author: admin (Infratructure Today)
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Promote renewable power | Budget 2013-14
Reliable Power: We believe that providing reliable power should be the first priority, thereby restoring the balance between demand and supply. With this having been accomplished, policy makers can then address the affordability criterion as the next step.Consequently, it is critical that the over 30 GW of capacity (that is ready for commissioning and is awaiting fuel supply), is supplied with fuel immediately. This applies for both coal and gas-based plants.
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More clarity required on taxability | Budget 2013-14
Finance Act (2) of 2009 makes providing PAN details compulsory for certain eligible payments especially on account of freight. Failing which the deductor is expected to deduct TDS at a higher rate Being in logistic sector, the nature of business is such that we are dealing mostly with unorganised sectors where it is very difficult on our part to collect the PAN. Hence, the following is recommended.
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Infra debt will boost the segment | Budget 2013-14
The Secretariat for Infrastructure in the Planning Commission is involved in initiating policies that would ensure time-bound creation of world class infrastructure delivering services matching international standards, developing structures that maximise the role of public-private partnerships (PPPs) and monitoring progress of key infrastructure projects to ensure that established targets are realised.
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Extend service tax exemption | Budget 2013-14
Within the Power sector the Transmission & Distribution (T&D) sector merits equal if not more attention. The more serious problem is one of under-investment in the T&D sector. For the last 50 years, India has been able to investment barely half of the desired level of investment in the T&D sector. Transmission lines in India are loaded up to 90 per cent in India against the world standard of 60-65 per cent.
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SFIS licenses should be transferable | Budget 2013-14
Applicability of MAT on companies during tax holiday Re-introduction of sec 10(23 g) so that interest is tax free to lenders of infrastructure projects Currently port services are considered as 'technical services' and thus fall under 194J for TDS purposes. Both 'port services' as well as 'revenue share' should fall under 194C.
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Remove bottlenecks | budget 2013-14
Given the backdrop of a modest 5.5 per cent GDP growth expected in FY13 and uncertainties on a global economic recovery, Union Budget 2013-14 assumes immense importance. It is imperative to stimulate domestic demand, that too through infrastructure creation because of its huge multiplier impact in terms of creating new jobs, enhancing productive capacity of economy and promoting inclusive growth.
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Build pace of reforms | Budget 2013-14
Most of the country's logistics resources are in urgent need of refurbishment. Setting up of a nodal cross-ministerial logistics body, providing infrastructure status to the wider transportation and logistics industry and dedicating higher financial outlay for logistics skill improvement is, therefore, advisable. TCI is in favour of a separate regulatory authority for better coordination between ministries for an integrated policy on the sector.
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A strategic leader
Ravichandran Purushothaman appointed as the President of Danfoss India Danfoss Industries, a mechanical and electronic compoÂnents and solutions provider has announced the appointment of Ravichandran Purushothaman as its President. Ravichandran is currently a key member of the Power Electronics global manaÂgement team and Senior Director for Power Electronics Asia Pacific Region.
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renewable energy specialist
Arvind Prasad is Managing Director of Ushdev International, the second largest private sector trading company in India and also a considerable player in wind power generation. His career, spanning around 28 years across different domains, has brought out his inherent leaÂdership qualities and his flair for quick as well as accurate decision making.