public sector company acting as implementing agency for a infrastural devt: project-issues
ajithkumar.t
(Querist) 08 June 2011
This query is : Open
Public sector undertaking of Govt; of Tamilnadu acting as implementing agency for devt: of infrastructural projects.There is no separate entity fro the last five years for the project. The grant from Gov: of India,and state received by agency and carries out the project.TDS etc collected by implementing agency and paid with their PAN etc.
How the balance sheet of the entity can be derived separately.
Can we start now a separate entity for taking over all the assets etc of the project. If so tax implications.
Is their any exemtions for such projects under Income tax act under the present status in the hands of implementing agency and under the hands of separate entity to be set up in future.
Any other points.
Please reply
