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
Latest Expert Exchange
News Headlines »
 Extension of the last date of filing of Form NFRA-1
 You have to invest in Section 54EC bonds within 6 months of sale of property Income Tax
 All you need to know about gift tax this wedding season
 3rd instalment of advance tax due on 15 December
 Tax on your gold and real estate investments
 Securities and Exchange Board of India (Mutual Funds) (Third Amendment) Regulations, 2018
 Have you filed your income tax? Remember these deadline nears; know from TDS, TCS to challan, forms
 Notification No. 96/2018 -Central Board Of Indirect Taxes And Customs
 Here’s how you can check your ITR refund status online
 Your tax form will be filled by the taxman Income tax return (ITR) filing
  Section 24 and Section 56 of the Banking Regulation Act, 1949 - Maintenance of Statutory Liquidity Ratio (SLR)

CII pitches for raising savings limit under Section 80C
January, 02nd 2007

In order to mobilise personal savings for the purpose of infrastructure creation in the country, the limit of savings under Section 80C should be raised from the current level of Rs 1 lakh to Rs 2 lakh, provided the additional Rs 1 lakh saving is invested in infrastructure bonds, according to the CII.

To maintain even an eight per cent growth trajectory, infrastructure needs upwards of $330 billion of investments over the next five years.

One of the ways to do it is to look how savings from personal savings can be mobilised, the chamber said in its pre-Budget memorandum to the Ministry of Finance.

Tax exemption

Investments into infrastructure bonds would be tax-exempt in the year of committing the money.

However, income from the bond would be taxed at the prevailing rate at the time of encashing the bonds.

The chamber has also sought re-introduction of Section 10 (23G), which would help making investments in infrastructure more attractive.

The CII has urged the Government to do away with dividend distribution tax and if that is not possible, reduce it to five per cent.

It has also sought that Section 80M (omitted through Finance Act 2003) be reintroduced, as it provides for deduction with respect to inter-corporate dividends.

Justifying the need for this proposal, the chamber pointed out that countries such as Singapore, Belgium and Finland allowed for either exemption on the dividend paid by the subsidiaries or set-off of credit against tax payable under the respective tax law.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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