SEZs
The Delhi based real estate company Unitech Limited has been reported a total loss of Rs. 14.69 crore in the second quarter of the current financial year. For the last year’s corresponding quarter, the company has posted a total profit of Rs. 25.57 crore. Despite this, the Managing Director of Unitech, Mr.Sanjay Chandra said [...] Continue Reading »
Synergy Property Development Services, a Bangalore-based project management consulting and turnkey solutions company, has signed a memorandum of understanding (MoU) with Malaysia-based HSSI. This firm is an engineering consultancy practices company, and this MoU was signed for a strategic partnership to collaborate on real estate and infrastructure development projects in Malaysia, South East and Far East [...] Continue Reading »
According to a recent statement made by Sanjeev Nandwani, Development Commissioner, SEZs (Eastern and North Eastern Zone), a total export income of Rs 15,000 crore was generated by the Special Economic Zones (SEZs) in West Bengal in FY 2013-14. The disclosure was made by Nandwani on the sidelines of a recent National IT Conclave organised [...] Continue Reading »
The Centre should refrain from restoring tax benefits to units in Special Economic Zones (SEZs) and developers of these enclaves that were withdrawn in the 2011-12 Budget. SEZ units and developers now incur a 20 percent minimum alternate tax (MAT) on their book profits. In addition, there is a 15 percent dividend distribution tax (DDT) [...] Continue Reading »
During the course of a July 24 meeting, the inter-ministerial Board of Approval (BoA) of the Union Government had reached a decision with regard to the cancellation of its approvals to 27 Special Economic Zones (SEZs), while giving 18 SEZs some more time to execute their projects. The SEZs whose approvals have been cancelled by [...] Continue Reading »
The government has assigned the think-tank ICRIER to check again and evaluate the special economic zone policy as informed in the Parliament last day. The findings in the report would be then analysed once again when the final report is submitted. This was stated in the written reply by Commerce and Industry Minister Nirmala Sitharaman [...] Continue Reading »
The spirits of the IT/ITeS sector had risen upon the finance minister’s announcement in the Budget speech that the government would take measures to revive the SEZs. Many companies started even planning to take up new space in the SEZ units. However all does not seem to be rosy. The first blow came with the [...] Continue Reading »
A significant relief has come to the IT industry as the Central Board of Direct Taxes stated that IT and ITeS units that have shifted operations to the special economic zones will be able to enjoy the tax sops under the scheme as long as their transferred technical manpower to the new units is lesser [...] Continue Reading »
An analyst says that the UPA government’s special economic zone (SEZ) scheme whose aim is to create infrastructure to facilitate exports appears to have failed. More than 60 percent of the total land under the SEZs is vacant years after the scheme launched in 2006. Till now the government has notified 389 SEZs. As per [...] Continue Reading »
Over the years, real estate has grown vastly in the prime cities of India such as Mumbai, Delhi-NCR, Chennai, Bangalore and Kolkata. The leading cities witnessed rapid growth with the wide-spreading industrialisation attracting massive population. After the tier-1 cities, now it’s time for the tier-2 and tier-3 cities to see significant pressures on their infrastructure [...] Continue Reading »
