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We have specialization to provide advisory services on complex statutory Compliance and policy-related matters under areas of Logistics (Import & Export), Taxation (GST & Customs), Foreign Trade & Investment (DGFT), Food Safety (FSSAI), Weights & Measures (Legal Metrology), Wireless & Telecommunication Products (WPC) and Chartered Engineering services. Optimize your Supply chain as 4PL Company through our 3PL partners. Refund of duty/ credit/interest at Customs, GST and DGFT Appellate Service related to Customs, GST and Legal Metrology. Licenses and IEC from DGFT.

Monday, February 29, 2016

#Budget2016 Corporate Tax rate proposals

 Corporate Tax rate proposals:

  New manufacturing companies incorporated on or after 1.3.2016 to be given an option to be taxed at 25% + surcharge and cess provided they do not claim profit linked or investment linked
deductions and do not avail of investment allowance and accelerated depreciation.

 Lower the corporate tax rate for the next financial year for relatively small enterprises i.e companies with turnover not exceeding `Rs 5 crore (in the financial year ending March 2015), to
29% plus surcharge and cess.

  100% deduction of profits for 3 out of 5 years for startups setup during April, 2016 to March, 2019. MAT will apply in such cases.

  10% rate of tax on income from worldwide exploitation of patents developed and registered in India by a resident.

 Complete pass through of income-tax to securitization trusts including trusts of ARCs. Securitisation trusts required to deduct tax at source.

  Period for getting benefit of long term capital gain regime in case of unlisted companies is proposed to be reduced from three to two years.

  Non-banking financial companies shall be eligible for deduction to the extent of 5% of its income in respect of provision for bad and doubtful debts.

 Determination of residency of foreign company on the basis of Place of
Effective Management (POEM) is proposed to be deferred by one year.

  Commitment to implement General Anti Avoidance Rules (GAAR) from 1.4.2017.

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