« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  ICAI to study IPO valuation... FM confident indirect tax kitty to exceed Budget target... » Excise sops for six Re-hit sectors February, 25th 2008 Budget 2008-09 may provide a bailout package for six labour-intensive sectors hit most by the strengthening rupee. Textiles, gems & jewellery, handloom, handicraft, marine and leather may get excise waivers and an extension of interest rate subvention which expires in March. Sources said the package is almost final, with the finance minister and the Prime Minister's Office giving the finishing touches. Sources said that the V Krishnamurthy committee, set up by the PMO to find ways in which the domestic industry could be helped to cope with the fallout of a rising rupee, had recommended special measures for the six sectors. “While many of the recommendations will not find place in the Union Budget, the finance ministry is likely to provide at least excise waiver and interest rate subvention for the six sectors, an official said. He added that the finance minister was in touch with the PMO on the relief measures to be announced in the Budget. Gems and jewellery sector, which operates on very thin margins, could get a special package. Excise duty on certain manmade fibres is at 8%, while duty on leather goods is at 16%. Machines used in marine and textiles industry are in the 16% bracket and same is the case with fishing nets and fish landings. On manmade fibres, leather goods and fishing equipment too, the duty rates are expected to be reduced.