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Tax exemption to industry and commerce sectors

News and Press Release - Dated:- 2-8-2016 - Direct Tax Various tax concessions in the form of exemptions/ deductions etc. have been provided under the Income-tax Act, 1961 which have been availed by different sectors of Commerce and Industry also. Cumulative figures of revenue impact of direct tax incentives for the last five years are as follows : (Amount in Cr.) Financial Year 2011-12 2012-13 2013-14 2014-15 (projected) 2015-16 Corporate Incometax 61,756 68,720 57,793 65,067 68,711 Personal In .....

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e-tax Act,1961 to promote exports; balanced regional development; creation of infrastructure facilities; employment; donations for charity and rural development; scientific research and development; and the cooperative sector. Indirect Tax Customs and Central excise duty exemptions are extended to goods in general, considering inter alia the public interest. The revenue impact of tax incentives on account of exemptions / concessions from customs and excise duty for last five financial years is a .....

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