Business Standard

Govt mulls tax holiday for companies making new investments in India

The finance ministry is considering a commerce ministry proposal on this, according to a Bloomberg report


Even as the Narendra Modi-led central government looks at measures to support the economy amid a global coronavirus crisis, the Union commerce and ministry could be planning a tax holiday for companies that bring new investments, suggests a Bloomberg report citing unnamed sources.

The finance ministry is said to be evaluating the proposed tax holiday of 10 years, which might apply to companies making more than $500 million worth of new investments. According to Bloomberg, the companies will need to start operations within three years from June 1 and cover sectors like medical devices, ...

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First Published: Tue, May 12 2020. 16:41 IST