World
Taiwan to prosecute woman who gave birth on flight
A woman who gave birth on a China Airlines flight enroute to Los Angeles from Taipei, will be prosecuted in Taiwan to compensate the airlines for the expenses caused due to the childbirth.
 
Minister of Transport and Communications Chen Jian-yu said the airlines (of which the ministry is the largest shareholder) will claim compensation for extra costs incurred due to the childbirth, EFE reported on Tuesday.
 
The passenger, under current regulations, had not declared herself to be in her 36th week of pregnancy and the childbirth forced the plane to divert from its route and land in Anchorage, Alaska, so that the mother and baby could receive medical attention in a hospital.
 
The route diversion cost the airlines more than $33,000, according to the airlines.
 
Apparently the passenger was travelling to the US so that her baby could be born there and obtain US citizenship that is granted automatically to those born on its soil.
 
The woman returned to Taiwan following her deportation, while her baby is in the care of a friend in the US.
 

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Abandoned feature film projects get tax relief
Filmmakers unable to complete their movies or who had to abandon them before completing will now be eligible for relief following the latest directive of the Income Tax department doing away with a provision of claiming tax on abandoned projects.
 
"It is clarified that Rule 9A does not apply to abandoned feature films and that the expenditure incurred on such films is not to be treated as a capital expenditure," a recent office order of the Central Board of Direct Taxes (CBDT) said.
 
"The cost of production of an abandoned feature film is to be treated as revenue expenditure and allowed as per the provisions of Section 37 of the Income Tax Act," it said.
 
"Revenue" expenditure implies a work that led to loss in the business.
 
"No appeals may henceforth be filed on this ground by the officers of the department and appeals already filed, if any, on this issue before various courts or tribunals may be withdrawn or not pressed upon," the order said.
 
Rule 9A allows for deduction of tax relief on taxable income in respect of the cost of production of a feature film certified by the censor board.
 
A senior official told reporters here on the sidelines of the CII Big Picture Summit on Tuesday that the latest order came after earlier court rulings in favour of filmmakers seeking that expenditure made on an abandoned film be treated as revenue, rather than capital expenditure.
 
The CBDT order raises the issue of films completed that have, however, not had a commercial release for some reason.
 
An example is the Anurag Kashyap produced "Michael", starring Naseeruddin Shah and Mahie Gill, which had only an initial release at the Toronto International Film Festival in 2011, but has not officially hit the screens. 
 
Meanwhile, actor-producer Ajay Devgn was felicitated for his valuable contribution to Indian cinema at the Confederation of Indian Industry's Big Picture Summit that concluded on Tuesday.
 
"The two-time National Award-winning film actor is today among Bollywood's most bankable box office stars," CII said in a statement.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Services spared from extra tax during GST transition
The government on Tuesday said that the services sector will not be charged extra tax levied during the transitional period of the implementation of the goods and services tax (GST).
 
According to Rashmi Varma, special secretary, revenue, in the finance ministry, the one percent additional tax which is proposed to be levied during the transitional period of GST for two years will not impact services sector.
 
Verma, who was addressing the CII (Confederation of Indian Industry) Big Picture summit held here, elaborated that the additional levy will only be charged on the manufacturing sector. 
 
The special secretary assured the media and entertainment (M&E) industry that the soon-to-be-implemented GST will be a game changer for the sector.
 
“Multiplicity of tax will go in one stroke. Entertainment, services and goods tax both at the Centre and states will be built into one -- making compliance hassle free.”
 
However, the entertainment tax levied by local authorities like panchayats and municipalities will remain, she clarified. 
 
"But, the share of such taxes to the total tax collected would be insignificant. Close to 99 percent of the taxes levied under the Centre and state dispensation would be merged with GST," Verma said.
 
She assured the industry that under the GST regime, goods and services would be taxed uniformly.
 
The industry had voiced concerns over the lack of definitional clarity between goods and services, tangible and intangible goods. 
 
Verma said all industries would be eligible to take credit under GST to set off against other tax liabilities. 
 
“We are working on the transition roadmap, so that the change-over hiccups will be minimal and if there are any concerns remaining, the GST Council, which will be set up after the constitutional amendment, will look into it and take corrective actions,” she said.
 
Besides the ongoing process, the top finance ministry official mentioned that a fourth draft proposal on returns will be put in public domain to seek the views of all stakeholders.
 
The ministry plans to place a model legislation in public domain by mid-November. It also plans to hold regional workshops to elicit the views of the industry associations at the apex and state levels. 
 
Verma said there would not be any concessions or incentives schemes under the GST regime. 
 
"The states which want to continue with the fiscal concessions for specified sectors could do so, setting apart resources from their own kitty," she said.
 
She added that no final decision has been taken on GST rate.
 
"The slabs under the GST would be minimal - one low and the other high and in between a standard slab - to keep the cascading effect to the minimal and easy to comply." 
 
“It is not in the sinful list, I can assure you that," Verma added 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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