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 Tax and transparencya

Haryana entrepreneurs to get tax holiday
July, 11th 2006

Entrepreneurs setting up industrial units in Haryana would get tax concessions and facilities on the lines of similar tax holiday granted in neighbouring Himachal Pradesh and Uttaranchal.

Announcing this, Chief Minister Bhupinder Singh Hooda Monday said the central government and the Planning Commission had given an assurance to his government in this regard.

Hundreds of industries, especially in the pharmaceuticals sector, had shifted to Himachal Pradesh and Uttaranchal in the last two-three years following announcement of a 10-year tax holiday in these two hill states by the central government.

Anyone putting up industrial units in these states before March 31 next year could avail the tax holiday. This included tax concessions on excise and income tax.

Himachal Pradesh alone had attracted investment of nearly Rs 200 billion after the announcement of tax holiday there.

Haryana is offering several new industrial estates and special economic zones (SEZs) for investment in the state's industrial sector after its success with the Gurgaon-Manesar industrial belt.

The state recently signed an agreement for the setting up of a Rs.250 billion SEZ with Reliance Industries Limited. This would be the first and the biggest private sector SEZ in collaboration with a government agency.

 
 
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