Specials

Advantage foreign broadcaster in Budget 2002

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/event-coverage/2016/02/24/Itv.jpg?itok=Batm6jHB

It was brief to say the least. The amount of time that finance minister Yashwant Sinha devoted to the entertainment sector in his speech to parliament while presenting the Union Budget 2002-2003 that is.

The key announcements Sinha has made relating to the entertainment, film and television industry in the Union Budget announced today are:

* Rather than removing that 5 per cent service tax as sought by the entertainment industry, cable operators as well as event management companies have also been brought under the purview of this levy.

*Customs duties on studio equipment and earth stations has been reduced from 35 per cent to 25 per cent. Specifically referring, to the duty reduction on earth stations, Sinha said this was keeping in mind India's potential to become the uplinking hub for South Asian countries.

*Budgetary allocation to the information & broadcasting ministry up 22 per cent to Rs 4150 million.

*Overseas joint venture investment limit for Indian companies has now been upped to 50 per cent of net worth from the earlier 25 per cent. This is likely to work as an incentive to Indian entertainment companies to set up subsidiaries abroad.

*A 50 per cent tax exemption to the those operating multiplex theatres for the next five years. The catch appears to be that the relief is applicable only for multiplexes that come up in rural areas.

*Corporate tax on foreign companies operating in India brought down from 48 per cent to 40 per cent. However, it should be kept in mind there is a 5 per cent surcharge on corporate tax that has been slapped across the board. This means a 2 per cent addition to be factored in. Therefore the actual payout is 42 per cent.Still, considering that corporate tax on Indian companies today stands at 35 per cent, this is likely to further incentivise foreign players to set up wholly owned subsidiaries in India.

All in all therefore, broadcasters like Zee, Star and Sony that are basically foreign owned entities, should not have too much to complain about. The same cannot be said for the cable industry though.

We will be adding more details as and when they become available to us.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/05/07/ficci.jpg?itok=7SZ3PrKt
FICCI - Cyril Amarchand Mangaldas releases FICCI Frames ‘Entertainment Law Book 2020’ Report

Federation of Indian Chambers of Commerce and Industry (FICCI) and Cyril Amarchand Mangaldas, today released ‘Entertainment Law Book 2020’ report. The report highlights regulatory developments in the field of TV broadcasting and distribution, music, radio, filmed entertainment, and other segments...

Specials Event Coverage Ficci Frames
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/23/nepa.jpg?itok=Cy1mmOwY
Research is important while creating content: Nepa India

MUMBAI: Research is a key ingredient before the launch of any product or brand. And creating content is nothing without appropriate research about the audience and their choices, explains Nepa India managing director Esha Nagar while giving a presentation at the fourth edition of The Content Hub...

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/19/content.jpg?itok=QJLmnbpl
Spontaneity, gut feeling are fundamentals of my direction: Badhaai Ho director Amit Sharma

MUMBAI: The director is like the manager of a film who brings talent under one roof and extracts it to create good content, said film director and producer Amit Sharma while addressing fellow and budding content creators at the fourth edition of The Content Hub 2020 organised by indiantelevision....

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/16/mrinal.jpg?itok=i9FsMYWf
Supernatural genre gives writers most creative liberty

Writers of the popular TV show Naagin, Mukta Dhond and  Mrinal Jha, explored the scope of the supernatural genre at The Content Hub 2020 organised by indiantelevision.com. Dhond said that the most exciting thing about fantasy is that it gives creative liberty to writers. As they say, anything is...

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/16/sameer-nair.jpg?itok=peGilHX-
Applause Entertainment’s Sameer Nair on digital content creation, self-regulation and creative freedom

Creativity, freedom of expression, self-regulation and content quality are some of the factors that come into play for digital platforms. These topics were addressed in a fireside chat between House of Cheer founder and CEO Raj Nayak and Applause Entertainment CEO Sameer Nair, at Indiantelevision....

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/14/sooni.jpg?itok=cKxCJYEr
It's the golden age of content: Sooni Taraporevala

MUMBAI: Sooni Taraporevala, an Indian screenwriter, photographer and filmmaker best known for her work in Mississippi Masala, spoke on ‘The Golden Age of Content’ at The Content Hub 2020 organised by indiantelevision.com.

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/13/frank..jpg?itok=9RCuWydp
Writers are the key to great content

At The Content Hub 2020 organised by indiantelevision.com, Tulsea talent manager Radhika Gopal and Matter Advisors founder and managing partner Caleb Franklin discussed the importance of creating an ecosystem and a platform for writers.

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/13/2.jpg?itok=QmXSbtrM
Visuals go hand-in-hand with storytelling for compelling content

It takes massive effort, time and investment but delivers great result for producing high-quality content in terms of visuals, said Travelxp’s creative director Kamakhya Narayana Singh while sharing the advantages of 4K and 8K format during the fourth edition of The Content Hub 2020 hosted by...

Specials Event Coverage Content Hub
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/03/13/cont.jpg?itok=zTGImIBB
More localised stories is the way forward to connect with larger regional audiences

Regional GEC is the new focus area after Hindi GEC for broadcasters, OTT platforms and production houses as well. South market is the biggest market in the regional space; it has grown by 45 per cent with OTT platforms investing in regional content.

Specials Event Coverage Content Hub

Sign up for our Newsletter

subscribe for latest stories

* indicates required