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Extract of 4th Annual Report of News Broadcasters Association 2010-11
Union Budget Issues
As decided by the NBA Board, a Sub-Committee has been constituted to look into budget issues for submission to the Finance Ministry from time to time. The Sub-Committee consists of the following Members:
1. Mr. Ajay Mankotia, President – Corporate Planning & Operations, New Delhi Television Ltd.
2. Mr. Gulab Makhija, Vice President – Finance & Accounts, TV Today Network Ltd.
3. Mr. S. Sundaram, Chief Financial Officer, Times Global Broadcasting Company Ltd.
The Sub Committee chaired by Mr. Ajay Mankotia has met and finalized the issues for submission to the Ministry of Finance, which relate to:
Direct Taxes:
1. Carry forward of brought forward losses on merger under Section 72A of IT Act, 1961
2. Tax holiday for broadcasting sector under Section 80IA of IT Act
3. TDS on payments to Multiple System Operators and Local Cable Operators – 194J
or 194C of IT Act, 1961
4. Characterization of Satellite Payments
Indirect Taxes:
1. Point of Taxation Rules
2. Excise duty and custom duty on STBs
3. Excise duty and custom duty on Head End equipments
4. Double taxation on transponder fees
5. VAT on use of IRDs
6. Double taxation on transfer of television content
These submissions have been submitted to the Chairman and Member (Legislation), CBDT, Ministry of Finance, for consideration.
A Bill aimed at digitising the cable industry in India by 2014 was passed in December last year. Although the Bill will introduce various mandatory changes to the cable industry, the verdict is out on whether it will encourage much-needed consolidation in the industry
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