The trade ministry is proposing a tax holiday for companies bringing new investments as the government explores measures to support the economy amid the coronavirus pandemic, according to people familiar with the matter. The proposal to give a 10-year full tax exemption to companies making new investment upwards of $500 million is being evaluated by the finance ministry, said the people, who asked not to be identified citing rules. The plan requires companies to start operations within three years from June 1, and will cover sectors including medical devices, electronics, telecom equipment and capital goods, they said.
Related Posts
ICICI Bank’s benefits for Army personnel across all ranks
The Memorandum of Understanding (MoU) has been renewed by ICICI Bank with the Indian Army. It offers a range of…
ProTeen plans to launch 100+ career centers
An integrated digital career guidance platform ProTeen has expanded its footprints nationwide. It looks forward to continuing the momentum with…
ABHI’s Partnership with Utkarsh Small Finance Bank
The health insurance subsidiary of Aditya Birla Capital Limited (ABCL) Aditya Birla Health Insurance Co. Limited (ABHICL) announced its bancassurance…