Among the wish-list that the telecom industry has from finance minister Arun Jaitley is a proposal to increase depreciation that could be claimed for batteries used for commercial purposes.
Among the wish-list that the telecom industry has from finance minister Arun Jaitley is a proposal to increase depreciation that could be claimed for batteries used for commercial purposes.
A note prepared by industry body Federation of Indian Chambers of Commerce and Industry (FICCI) says that batteries used in telecom infrastructure get clubbed in the plant and machinery category along with towers and shelters and are eligible for 15 percent depreciation as per rules.
"However, batteries have an economic life of approximately three years and after which they need to be compulsorily replaced. As a result these companies are able to claim only 38.6 percent depreciation (15 percent tax on written down value method for three years)," it says, calling for allowing depreciation to be charged at 65 percent to allow for cost recovery.
The industry body also called for tax benefits under section 35AD of the Act by providing investment linked incentives for tower infrastructure service providers (TISPs). "This will lower the cost of services offered by TISPs and would thus help in achieving the government's goal of providing affordable telephony."
Further, the industry wants no tax to be deducted at sources for payments of service fee made by telecom operators to TISPs.
"The TISPs provide 24x7 power supply, air-conditioning and access to tower sites on shared basis to multiple telecom operators in return for service income. However, the payment for such fees by the telecom operators to the telecom infrastructure service providers has not been specifically covered under the existing TDS provisions and thus creating ambiguity on its applicability. As a result, tax is deducted at source by the telecom operators at a higher rate of 10 percent under section 194-I of the Act to avoid penal provisions under the Act in case of noncompliance of stringent provisions of TDS and resultant disallowance of expenditure."
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