Shringar Cinemas receives entertainment tax exemption for Fame Multiplex at Kandivali

Shringar Cinemas Ltd has announced that the Company has received the Entertainment tax exemption for its Fame Mutiplex situated at Kandivali, Mumbai and the said exemption will be availed by this multiplex with effect from September 04, 2006.

Under the Entertainment Tax Exemption policy, the said Multiplex will enjoy 100% exemption for the first 3 years and 75% exemption of the prescribed rate for the subsequent two years.

The entertainment tax paid by the said Multiplex from April 01, 2006 to September 03, 2006 was Rs 1.48 crores.

Further the Company has informed that the sixth screen of the Fame Multiplex at Surat, which is under a management contract with the Company, consisting of 88 Gold Class seats (recliner) has commenced its operations on September 03, 2006. With this, six screens consisting of 1840 screens are operational at Surat Multiplex.

Source : Equity Bulls

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