« 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 «  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.