Thursday, 15 December 2016

Market rebounds on IT support; Nifty above 8200, Sensex gains

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The Road and power companies are seeking an overhaul of existing tax reforms from the upcoming Budget. Companies in road and power sector have met with finance ministry officials and key to their demands is the proposal to consolidate all taxes allowing them to be taxed as a single entity. 

Currently, special purpose vehicles under a company are treated as separate entities and taxed on profit. Tax consolidation would allow companies to pay tax based in overall profit. The finance ministry has asked road and power companies to cite foreign examples of tax consolidation.

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