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English Release 19-April 2014
Date Month Year
  • Prime Minister's Office
  • PM greets the nation on Easter
  • Min of Earth Science
  • Revised Earthquake of the Magnitude
  • Earthquake of Great Magnitude
  • Earthquake of Moderate Magnitude
  • Ministry of Finance
  • Central Board of Direct Taxes Issues Detailed Guidelines for Laying Down Standard Operating Procedure for Verification/Correction of Arrear Tax Demand
  • Central Board of Excise and Customs Issues Rate of Exchange of Foreign Currency to Indian Rupees in Case of Imported and Export Goods

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Ministry of Finance23-November, 2012 19:33 IST
No Tax Free Zones in Operation

There is no concept called Tax Free Zones as such in operation. However, there are schemes like Special Economic Zones (SEZs) and Export Oriented Units (EOUs) which provide tax exemptions. Both above schemes are administered by the Department of Commerce. In addition to above, package of incentives for the Special Category States of Jammu and Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States (such as Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura) are provided by the Department of Industrial Policy & Promotion under its Industrial Policy. Package of incentives provided to above States also include various tax concessions as per notifications issued by the Department of Revenue.

Presently there is no proposal under consideration of the Ministry of Finance to declare certain areas as tax free zones.

This was stated by the Minister of State for Finance, Shri S.S. Palanimanickam in a written reply to a question in the Lok Sabha today.

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(Release ID :89371)

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