-------------------------------------------------------------------------- | Goanetters annual meet in Goa is scheduled for Dec 27, 2005 @ 4pm | | | | Watch this space for more details | | | -------------------------------------------------------------------------- Parliament approves taxation Bill Wednesday, December 21, 2005 at 0037 hours IST
NEW DELHI, DEC 20 (PTI): The Parliament on Tuesday approved a Bill to amend taxation laws to exempt around 60,000 small exporters from taxes under the duty entitlement pass book (DEPB) scheme with the House returning the measure by a voice vote. The taxation laws (amendment) Bill, 2005 also aims at extending tax incentives to export business with effect from assessment year 1998-1999 under DEPB and duty free replenishment certificate schemes. It includes amendments to exempt from withholding tax any payment received in respect of a lease of an aircraft or aircraft engine by government of a foreign state or enterprise. Replying to a debate on the Bill, finance minister P Chidambaram said the government has decided to extend exemption from withholding tax on sports events such as the mini-world cup to be staged next year following assurance of the Prime Minister to the International Cricket Council. Campaign to attract more tourists: The government has started a programme titled atithi devo bhava (guest is like a god) in seven states of the country to attract more tourists, the House was informed. In a reply, minister of state for tourism Renuka Chowdhury said the programme was a social awareness campaign aimed at providing the in-bound tourist with a sense of being welcomed to the country. The first phase of the campaign ended in March 2005, while the second phase has already been launched with effect from October 2005, Ms Chowdhury said. In reply to another question, she said an estimated 2.38 million, 2.72 million and 3.37 million foreign tourists arrived in India during the years 2002, 2003, and 2004 respectively and a total of $11,266 million of foreign exchange was earned by the government. Expenditure on highways: The expenditure incurred on national highways in 2004-05 was Rs 8,746.4 crore amounting to 0.3% of the GDP, minister of state for finance SS Palanimanickam said. He said the government has not received any proposal for merger of Bank of India and Union Bank of India till date. The minister also ruled out introduction of Islamic banking in India. But RBI is looking at enabling requirements if overseas branches/subsidiaries of Indian banks have to offer Islamic banking products to meet the emerging competition, he said. Systems to ensure flights are not cancelled due to fog: A special system is being installed in order to ensure that flights were not cancelled in case of fog, minister of state for civil aviation Praful Patel informed the House. In a written reply, he said 21 pilots of Air India and 39 from Indian Airlines have so far been trained and approved by the directorate general of civil aviation for operating flights under the 'Cat-iii B' system. Flights: Mr Patel said India has air service agreements with 100 countries, including United Kingdom, the US, France, Germany, Canada, China, Saudi Arabia and Afghanistan. He said as part of liberalisation and to improve the utilisation of traffic rights by the Indian side, the government has decided to permit private scheduled airlines having continuous five years experience in domestic sector and a minimum fleet size of 20 aircraft to operate on international routes except to UAE, Qatar, Bahrain, Oman, Kuwait and Saudi Arabia. -------------------------------------------------------------------------- | Goa - 2005 Santosh Trophy Champions | | | | Support Soccer Activities at the grassroots in our villages | | Vacationing in Goa this year-end - Carry and distribute Soccer Balls | --------------------------------------------------------------------------
