« Top Headlines » Open DEMAT Account in 24 hrs  How can Form 15G & Form 15H save TDS on interest income?  How are e-filing and e-payment of taxes different? Know details here  Income Tax return (ITR) filing 2024: What is Form 16, when is issue date and why is it crucial? Explained  Step-by-Step Guide To File Income Tax Return FY 2023-24  Income-tax filing: Should you file your returns in April or wait until July 31?  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here «  Finmin wants states to take bigger share of Central schemes... PAN deadline prompts demat closures... » `Revenue loss from SEZs still valid` September, 20th 2006 Finance Minister P Chidambaram today said his ministrys concerns over revenue loss in the long run due to proliferation of special economic zones still stood. All that the finance ministry has said is there must be some caution in approving SEZs because in the long run revenues could see a serious shift, he said on the sidelines of the annual World Bank-IMF meeting here. This point still remains and a group of ministers promised us that they will carefully watch the progress of SEZs and review the policy if and when it becomes necessary. So that is where it stands, Chidambaram said. However, the finance minister refused to be drawn into a controversy with the IMF Chief Economist Raghuram Rajan over his remarks that special economic zones, particularly in the IT sector, are being set up to take advantage of tax sops. There were reports of serious differences between the commerce and finance ministries, which sees SEZs as revenue rip-offs. I am not getting into a debate between Raghuram Rajan and the commerce ministry. Parliament has passed the law and we welcome SEZs, Chidambram said. The Commerce Ministry is now reported to be open to capping the number of IT special economic zones, provided the Finance Ministry is willing to continue the tax sops given to Software Technology Parks of India (STPIs) beyond FY09.