Tax holiday News
Petroleum ministry points to tax holiday anomaly
New Delhi: The petroleum ministry has taken up the issue of income tax holiday with the ministry of finance saying that there is an anomaly in the proposed change in the holiday provision.
Finance minister P. Chidambaram, through the finance bill, proposed a new clause in sub-section 80-IB (9) that takes away “petroleum and natural gas” from the definition of “mineral oil”.
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