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.
Category: Ports & Shipping
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Maritime states oppose proposed Port Regulatory Authority
Maritime states in the country are opposing the proposal of the union Ministry of Shipping (MoS) to set up a Port Regulatory Authority under the Ports Regulatory Authority Bill.Following this, the ministry is rethinking the proposal for establishing such a regulator, reports suggest. The proposed regulatory authority would encompass all ports in the country.
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Board clears master plan for Vizhinjam port project
The director board of Vizhinjam International Seaport approved the master plan for the proposed Vizhinjam port project. The project authority has reportedly sent a copy of the master plan to the International Finance Corporation, which is doing the Environment Impact Assessment (EIA) study for the project.
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Board clears master plan for Vizhinjam port project
The director board of Vizhinjam International Seaport approved the master plan for the proposed Vizhinjam port project. The project authority has reportedly sent a copy of the master plan to the International Finance Corporation, which is doing the Environment Impact Assessment (EIA) study for the project.
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ICTT loses cargo traffic on rise in cost
The International ContaÂiÂner Transshipment Terminal (ICTT) at Vallarpadam is said to be losing cargo volume to other ports because of increase in the cost of operation.The terminal operator in ICTT has reportedly raised the handling charges. The on-availability of examination yard inside ICTT has also raiÂsed cost.
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Head count falls at Kandla port
Gujarat-based Kandla Port witnessed a marginal decline in its staff strength during 2001-2009, a study by the apex industry body Assocham found. The employee strength has reduced marginally by about 1 percent or so at Kandla, where the number of employees dropped from over 4,300 to just over 4,000 during the aforementioned 10 years period, says the study.
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Trial run at Kattupalli port
A trial run of a container vessel at Kattupalli Port went as per plan and without any hitch. Following this, the port is ready to handle more container ships, reports indicate. The container vessel Maersk Dalton completed the maiden trial run between the Chennai Port Trust and Kattupalli Port. During the trial run, officials tested the systems, crane operations and immigration procedures.
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Govt clears 14 FDI proposals
Mumbai-based Hindustan Port received government approval to receive foreign funds worth Rs 440 crore for investment in downstream companies. The above plan is part of the 14 foreign direct investment (FDI) proposals worth about Rs 1,311.60 crore approved by the government recently based on the recommendations of Foreign Investment Promotion Board (FIPB).
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ABG, PSA for JNPT project
Union Minister for Shipping GK Vasan informed that the world's largest port operator PSA International and the ABG Group would be allowed to bid at the fresh tender for the proposed fourth container terminal project at Jawaharlal Nehru Port Trust (JNPT) as long as they are not blacklisted. The contract given to the above two firms for constructing the 4.8 million tonne container terminal was cancelled as they failed to sign the concession agreement within the stipulated deadline.
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IFC to submit report on Vizhinjam Port project
Agency reports indicate that the International Finance Corporation (IFC) would soon submit the environment impact assessment (EIA) report for the proposed Vizhinjam Port. Part of the World Bank Group, IFC is the largest global development institution focused exclusively on the private sector in developing countries