Tax holiday for undertakings in J&K extended, CNG distribution networks entitled for tax concession

In the new Budget proposals, the Finance Minister has extended the tax holiday for undertakings in Jammu and Kashmir by another five years upto March 31, 2012. The step is aimed at promoting further investment in the State.

Cross country natural gas distribution network, including gas pipeline and storage facility integrated to the network, and navigation channel in the sea have been included in list of infrastructure facilities that are entitled to tax concessions under Section 80IA of the Income Tax Act.

Source : Press Information Bureau

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