« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Meaning of the term "Charitable" u/s 65(105)(zzze) of the F.... State Bank leads tax remittance chart again... » Big power projects may get longer tax breaks September, 23rd 2006 The power ministry has sought for ultra-mega power projects the extension of benefits available under Section 80-IA of the Income Tax Act till March 31, 2012. The matter is being considered by the finance ministry, a senior official told Business Standard. Under the provisions of Section 80-IA of the Income Tax Act, a five-year tax holiday and a deduction of 25 per cent (30 per cent in the case of companies) in the subsequent five years is allowed to an undertaking engaged in generation and distribution of power or to an industrial undertaking set up in backward states or districts. The Union Budget for 2006-07 had extended this benefit up till March 31, 2010. If implemented, the move will benefit developers of ultra-mega power projects. Each of these 4,000 Mw projects will require an investment of Rs 20,000 crore, with the gestation period of the investments estimated in the range of 10-15 years. The other proposals before the finance ministry include revisiting and adequately enhancing the sectoral and group cap on debt financing as notified by the Reserve Bank of India, enhancing the debt component in the debt equity ratio of 70:30, and according mega power status to these projects even without central plan devolution in payment security. It is also likely that the bond market is activated to arrange funds for the projects. They will be set up in Tamil Nadu, at Ib Valley (Orissa), Krishnapatnam (Andhra Pradesh), Akalatara (Chhattisgarh), Tadri (Karnataka), Sasan (Madhya Pradesh), Mundra (Gujarat), and Girye (Maharashtra).