Question : EXTENSION OF IT HOLIDAY IN DAMAN AND DIU

(a) whether Daman Industries Association has demanded Income Tax Holiday Extension in the UT of Daman & Diu; and

(b) if so, the action taken by the Government in this regard?

MINISTER OF STATE IN THE MINISTRY OF FINANCE: (SHRI S.S. PALANIMANICKAM)


(a) & (b): Yes, Sir. The tax benefit available under the Income-tax Act to industrial undertakings set up in industrially backward States has not been extended. However, in view of the new Industrial Policy formulated by the Ministry of Commerce & Industry, with the approval of the Union Cabinet, tax benefit for undertakings in the States of Jammu & Kashmir, Himachal Pradesh, Uttaranchal, Sikkim and North-Eastern States only has been extended.