« Top Headlines » Open DEMAT Account in 24 hrs  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  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  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 «  11th Plan approach paper moots tax on pvt hospitals in... Apex court reserves judgement on Japanese company’s plea... » `SEZ Act may allow agri land acquisition for real estate' September, 15th 2006 Will cause large-scale displacement of farmers: CPI(M) The Communist Party of India (Marxist) feels that the SEZ Act may allow acquisition of agricultural land for real estate development causing large-scale displacement of farmers in the name of industry and other social ramifications. The party politburo has discussed the issue in detail in its meeting held in Kolkata on Wednesday and has decided to seek a change in the Act to ensure use of a minimum of 50 per cent of the land for industrial purposes against the existing SEZ Act allowing the use of up to 75 per cent of land for non-industrial or real estate purposes. The CPI (M) will also consult other political parties on the issue. `Uncomfortable with some rules' "We are not comfortable with certain aspects of the Act and its rules and regulations," the CPI (M) General Secretary, Mr Prakash Karat, said here on Thursday. He was addressing an interactive session "Agenda for inclusive growth" organised by Federation of Indian Chambers of Commerce and Industry. "When the Bill was brought in the Parliament, we were only concerned about labour issues and did not pay much attention to the nitty-gritty of the rules and regulations," Mr Karat said admitting his party's failure in pointing out the alleged loopholes in time. Many SEZ approvals However, now that a large number of SEZ applications have received in-principle approval, the issue has attracted our attention, he said. Interestingly, the changes demanded are in line with the SEZ development policy followed by West Bengal. The State has approved two SEZs stipulating use of 50 per cent of land for industry, 25 per cent for creation of infrastructure and the rest for real estate development. Earlier, talking on regional divide, Mr Karat said that most of the SEZs were proposed in industrially developed States such as Gujarat, Maharashtra, Tamil Nadu and Karnataka.