HindustanTimes Thu,28 Aug 2014

Tax holiday for power projects extended by another year

IANS  New Delhi, July 10, 2014
First Published: 14:07 IST(10/7/2014) | Last Updated: 15:13 IST(10/7/2014)

The government has extended by another year the 10-year tax holiday for the power sector, Finance Minister Arun Jaitley announced on Thursday.

With this, the eligible date for projects in the power sector to avail the benefit under section 80-IA of the Income Tax Act stands extended from March 31, 2014 to March 31, 2015.

The law allows a power producer to claim tax exemption for up to 10 years within the first 15 years of a project's operations.

The government last year extended the scheme, which primarily benefits independent power producers plagued by issues like fuel supply shortages, until March 2014.

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