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Continuation of tax sops sought for SEZ units
22 July 2010: An Export Promotion Council for EOUs and Special Economic Zones (EPCES) delegation has sought income-tax exemptions from the Union Government for new SEZ units under the Direct Taxes Code (DTC) regime.
The revised DTC draft proposes to do away with I-T exemptions to units that come up in SEZs after the implementation of the Code from 1 April 2011. The EPCES delegation informed the Union Ministry of Finance and Union Ministry of Commerce that if I-T benefits are not provided to new SEZ units, entrepreneurs will not set up units in SEZs, in turn affecting the viability of SEZ projects. They also demanded that the benefits to units and developers provided by the SEZ Act should not be altered by the DTC.
Source: Hindu Business Line