infrastructure company

Certain have been using fake hawala bills to inflate their turnover, a sales tax department investigation has found. Achievement of a certain level of turnover is an entry-level criterion for companies to bid for such big-ticket (multicrore) projects Full Article

Roads, flyovers bridges etc., constructed and owned by an infrastructure company and utilised in its business of providing infrastructure is the tool of its trade and an essential adjunct to its business and not merely a setting in which the business is carried on and therefore, would constitute plant and will be entitled to depreciation at the rate of 25 per cent. Full Article

The government may retain profit as the key condition for levying minimum alternate tax (MAT) in the final draft of the direct taxes code after its asset-based approach proposed earlier ran into a storm of protests from industry. Other options being considered by the government include tax exemptions for asset-heavy infrastructure companies and start-ups, and a lower rate for MAT, a senior government official told. Full Article