« Top Headlines » Open DEMAT Account in 24 hrs  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal «  Notice to firms for claiming service tax abatement... Burden of proving exemption is on claimant... » Land details impeding SEZ notification process July, 12th 2006 Only seven out 90 formally approved have been notified so far.    There appears to be a mismatch between the rush to set up special economic zones (SEZs) and their subsequent notifications.    Out of the 90 SEZs that have so far obtained formal approval from the Board of Approval for SEZs, only seven zones have been notified. According to the SEZ Act, 2005, a zone has to be notified in order to avail of the direct and indirect tax benefits.    The seven zones, which have been notified, include: Reliance Infrastructure Ltds 440-hectare petroleum and petrochemical SEZ at Jamnagar in Gujarat, Flextronics Technology (India) Pvts 101-hectare electronic and hardware zone at Sriperumbudur in Chennai, Divis Laboratories Ltds 101-hectare pharmaceutical SEZ at Chippada in Vishakhapatnam, Chandigarh administrations 45-hectare electronic and IT zone at Chandigarh and the 2,658-hectare multi-product Mundra SEZ.    TCSs IT zone at Chennai, spread over 28 hectares, and Apache Investment holdings Pvt Ltds footwear zone, spread over 101 hectares, are in the process of being notified. In the last two BoA meetings convened on March 17 and June 12 formal approvals had been given to 92 cases.    Commerce ministry officials said the delay in notifying approved cases as SEZs was because the ministry was being cautious while seeking land details.    We have asked companies to bring specific land documents to prove that they possess the land. Mere signed documents from the state government indicating the land size allotted to the company are not being accepted, an official said.    Officials said there were a lot of procedures involved in setting up multi-product SEZs.    Each such zone has to have a development commissioner and we are in the process of appointing commissioners for approved SEZs. Without the commissioners being appointed, the developers cannot begin any activity inside the zones, an official said.    The empowered group of ministers on SEZs had decided to impose a cap on the number of SEZs to be approved at 150.    Though we are yet to reach the cap, we want the zones approved to get their notifications in place before more cases are cleared, an official added.