« Top Headlines » Open DEMAT Account in 24 hrs  Budget 2024 makes new income tax regime more attractive: See how much taxes you can now save  ITR filing 2024: New vs old income tax regimes, 6 key things to consider while filing your tax return  These five technical glitches may impact your Income tax return (ITR) filing. Know here  ITR filing 2023-24: How to optimise Section 80D deductions at the time of filing tax returns  ITR filing 2023-24: Top 7 mistakes to avoid for hassle-free income-tax return filing this year  Income tax returns for FY 2023-24: Keep these 8 tax law changes in mind while filing ITR this year  ITR Filing 2024: Know who can and cannot file income tax returns using ITR-1 this year  Income Tax Filing: 10 necessary guidelines that you must be aware of  Why you should file your income tax returns before July 31  What is Form 26AS? How to download Form 26AS to file Income Tax Return (ITR)  Income Tax Return: What are the alternatives to Form 16 that can be used while filing ITR? «  Corporates can now file IT, FBT returns by Nov 30... NRI investors will soon need PAN... » Govt might give tax benefits on bio fuels October, 25th 2006 The Government is mulling giving tax incentives like excise and import duty exemption to promote the use of biodiesel and ethanol in auto fuels so as to cut down country's import dependence to meet its fuel needs. The Ministry of Non-Conventional Energy Sources, now re-christened as Ministry of New and Renewable Energy, in the draft National Policy on Biofuels has suggested a slew of fiscal incentives and a National Biofuel Development Board headed by Prime Minister Manmohan Singh to promote doping of petrol with ethanol and diesel with non-edible oil. Official sources said the ministry's draft note for the Cabinet proposes excise duty exemption to biofuels in pure as well as blended form up to a certain percentage with a view to lowering price of the biofuel for the end user. It also proposed custom and excise duty exemption to plant and machinery used for processing oil seeds for biofuel production. Besides, excise duty exemption to biodiesel blended with duty-paid diesel, similar to the concessions given for ethanol blended petrol made by mixing duty paid petrol, is proposed to be provided. Sources said the draft policy also proposed setting up of a National Biofuel Development Board to fix Minimum Support Price (MSP) for non-edible vegetable oil seeds required for conversion to biodiesel and other biofuels such as ethanol. NBDB, which is proposed to be headed by Prime Minister, would also prepare a National Road Map on bio-fuel in petrol and diesel engines in a time-bound manner.