Top Story

e4m_logo.png

Home >> Advertising >> Article

Tax holiday extended to broadband, ISP firms

01-March-2001
Font Size   16
Tax holiday extended to broadband, ISP firms

It's good news for companies setting up new units for telecom, ISP, and broadband projects. The five-year tax holiday -available to telecom undertakings set up on or before March 2000 - has now been extended to include all telecom, ISP, and broadband companies or units set up on or before March 2003. This holiday allows a further deduction of25 per cent of profits (30 per cent in case of companies), under the section80-IA.

The proposed amendment will take effect retrospectively from April 1, 2001,and will apply in relation to assessment year 2001-2002 onwards.

Reacting to the Budget proposals, chairman of Telecommunications Committee of Assocham and president, Telecom Industry Services Association (TISA), Mr. PK Sandell, said that allowing five-year tax holiday and 30 per cent deduction to telecom, ISP, and broadband networks is an excellent proposal. However, the time limit of March 31, 2003, will not result in the benefit actually enjoyed by the companies because of the bureaucratic delay that exists for licensing and clearance procedures," he added.

Mr Rajeev Mehrotra, president Association of Basic Telecom Operators, (ABTO) also welcomed the extension of the tax-holiday to infrastructure projects. This had been one of our key demands since very few companies had been able to start operations in any significant manner in the last five years.

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

V-Guard Industries, a household name for consumer electrical appliances in India, has revamped its logo in order to reflect the strength gained by the brand over the years. The company has also unveil...

The report reveals that there has been nearly 5 times more growth in video consumption in the last 12 months, with 96 percent of all usage being focused on long form video

Gopalan currently leads the Indonesia operations of P&G, and will be taking over from April 1st, 2018 as Al Rajwani is set to retire after 37 years with the company.