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
« Direct Tax »
 CBDT gets three new members
 Income Tax Returns (ITR) filing: Interest from PPF is tax exempt; but on NSC, it is taxable
 Gift of capital asset to spouse is not chargeable to tax
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 Institutions will soon have to file I-T exemption application online: CBDT
 CBDT issues Advisory to file Returns by 31st October
  Income–tax (Dispute Resolution Panel) (First Amendment) Rules, 2018
 CBDT Notification 74/2018 Income Tax
 No Further Due Date Extension for Tax Audit, CBDT Confirms
 Here’s what could happen if you don’t file your income tax returns on time
 Income–tax (Dispute Resolution Panel) (First Amendment) Rules, 2018

Developers of SEZ may accelerate to meet DTC deadline
September, 24th 2010

The deadline of March, 2014, under the proposed Direct Taxes Code (DTC) for making new special economic zone units operational if they are to get tax benefits is likely to speed up development of these SEZs by entrepreneurs, a report said.

"In order to meet the time lines proposed in the Direct Taxes Code, developers and investors are likely to fast track the development of SEZs to meet the unit operational deadline of March, 2014," a report by industry chamber Assocham said.

The DTC Bill, which was tabled in Parliament in August, proposed that units in SEZs that commence commercial operations by March, 2014, shall be allowed profit-linked deductions permitted under the Income Tax Act, 1961.

It also proposed that SEZs notified on or before March 31, 2012, will get income tax benefits.

With SEZs attracting investments of over Rs 1.66 lakh crore, industry sources said the income tax benefit provided in the SEZ Act, 2005, is the major attraction for investors.

Assocham further said that demand for offices in the SEZs is expected to be low in the next 3-6 months, as occupiers are likely to rework their real estate strategies in the wake of the new time lines proposed in the DTC.

The report said that while non-extension of profit-based tax incentives to new SEZs is a definite "setback" to the overall SEZ scheme, it is a step forward towards rationalisation prior to introduction of a consistent tax policy.

"The real estate market in India is likely to adjust to the changing circumstances once DTC comes into force and then see a sustained demand momentum until 2014 from developers as well as occupiers," the report said.

The government has given formal approval for setting up about 580 SEZs, of which 122 have become operational.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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