Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Keralam CM reviews operational preparedness at Vizhinjam port
    Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman chairs 3rd Meeting of Apex Monitoring Authority of NICDIT and reviews the pro...
    NBCC moves SC for RERA exemptions to complete 16 stalled Supertech projects
    DFS Hosts PSB Confluence 2026: Day 1 Deliberations focus on Four themes- Deposit Mobilisation, Banking for Youth, Supporting the Investment Cycle and ...
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat': FM
    Rupee falls 19 paise to close at 95.61 against US dollar
    Govt to soon announce high-level panel on 'Banking for Viksit Bharat'
    Union Minister of Finance and Corporate Affairs interacts with interns from PM Internship Scheme in New Delhi
    DRI uncovers large-scale illegal use of SAFTA agreement in areca imports
    Rupee falls 17 paise to 95.59 against US dollar in early trade
    Colombian president asks Trump to suspend tariffs to help earthquake recovery
    Mission Samudra to be launched alongside Vizhinjam’s EXIM operations
    Europe emerges top destination for India's electric car shipments in Q1
    Govt sets LPG production targets for refiners; Reliance gets largest quota
    PM urges MSMEs to tap opportunities from FTAs
    PM urges farmers to adopt 'chemical-free farming' to tap rising global demand for such food items
    Govt rolls out foreign asset disclosure scheme for small taxpayers
    Need one or two Indian pharma firms to be among global top 5: PM Modi
    Small taxpayers with€™ foreign assets to face 30 pc tax plus penalty; disclosure scheme opens till Dec 31
    PM urges MSMEs to tap opportunities from FTAs
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 18, 2026
Show AI Summary
Export-import operations advance through operational preparedness review and planned port-led industrial and logistics development initiatives.
Operational preparedness for full land-based export-import operations at Vizhinjam Seaport was reviewed, including the Vehicle Traffic Management System. EXIM cargo operations follow a trial shipment of the port's first export container to Valencia. Mission Samudra is proposed to support port-led industrial and logistics development alongside these operations. The deep-water port was developed through a public-private partnership model and had obtained commercial commissioning certification before its dedication to the nation.
August 18, 2026
Show AI Summary
Industrial corridor development prioritises empowered SPVs, integrated infrastructure and investor-ready parks to accelerate manufacturing investment and operations.
National Industrial Corridor Development Programme implementation prioritises timely infrastructure completion, land allotment, investment mobilisation and commencement of manufacturing. PM GatiShakti-aligned planning requires integrated connectivity, utilities and social infrastructure, while States should resolve land, clearance and SPV-power bottlenecks. BHAVYA proposes investment-ready, plug-and-play industrial parks appraised for ready land, credible demand, connectivity, utilities, realistic phasing and early investor attraction. NICDIT routes Government participation and equity support for BHAVYA project SPVs, and NICDC coordinates implementation and monitoring.
August 17, 2026
Show AI Summary
RERA compliance exemption for stalled housing projects raises whether statutory obligations may be waived to enable phased project completion.
RERA compliance exemption is sought for completion of 16 stalled residential projects by a public sector construction entity appointed under a project-completion arrangement. The appellate insolvency tribunal declined to direct a waiver, considering itself incompetent to exempt compliance with statutory provisions. The arrangement requires phased completion, award and commencement of construction work, and oversight through an apex committee and project-wise committees. The projects remain incomplete owing to the developer's financial crisis.
August 17, 2026
Show AI Summary
Deposit mobilisation and youth banking guide strategies for stronger public financial institutions, investment financing and Global Capability Centre opportunities.
PSB Confluence 2026 considers strategic priorities for Public Sector Banks and Public Financial Institutions across deposit mobilisation, banking for youth, investment-cycle financing and Global Capability Centres. Discussions seek practical, scalable strategies to strengthen customer engagement, youth-responsive banking propositions, institutional financing capabilities and participation in the expanding Global Capability Centre ecosystem. Youth engagement may use the MY Bharat platform to strengthen links with the formal financial system and awareness of education finance, entrepreneurship, internships and financial-sector careers. Further themes include value-chain infrastructure, priority sector lending and credit card business reform.
August 17, 2026
Show AI Summary
Banking-sector reform will guide lender capacity, financial stability, inclusion, consumer protection, deposit growth and responsible credit-card expansion.
Banking-sector reform is proposed through a high-level committee on Banking for Viksit Bharat to review the sector and align it with growth needs while safeguarding financial stability, financial inclusion and consumer protection. Key themes include deposit mobilisation, youth banking, investment support, global capability centres, value-chain infrastructure, credit cards and priority-sector lending. Public-sector banks are expected to improve competitiveness through technology, sectoral expertise, product adaptation and customer-focused deposit growth. Credit-card development must maintain responsible underwriting, customer protection and appropriate risk controls.
August 17, 2026
Show AI Summary
FCNR(B) concessional swap facility availability narrows to timely mobilised deposits amid rupee depreciation and foreign currency inflow concerns.
Foreign-exchange conditions reflected rupee depreciation amid weak domestic equity markets and higher crude oil prices. FCNR(B) concessional swap facility availability is confined to foreign currency deposits mobilised by banks within the revised cut-off period, replacing the previously longer mobilisation window. The facility is intended to encourage foreign currency inflows, while banks use the FCNR(B) scheme to mobilise foreign currency deposits through attractive interest rates.
August 17, 2026
Show AI Summary
Banking sector review panel will align future growth with financial stability, inclusion and consumer protection through government recommendations.
High Level Committee on Banking for Viksit Bharat is proposed to comprehensively review the banking sector and align it with India's next phase of growth. It is intended to safeguard financial stability, financial inclusion and consumer protection, while providing views and recommendations to the Government on banking-sector development and reform.
August 17, 2026
Show AI Summary
Prime Minister Internship Scheme enhances youth employability through paid industry exposure, cross-field learning, workplace readiness and potential full-time employment.
The Prime Minister Internship Scheme provides paid internships with leading companies across India to improve youth employability through practical workplace exposure, industry experience and skills development. It addresses the gap between classroom learning and employers' expectations of workplace readiness. Participation is not confined to academic qualifications, allowing youth to pursue fields of interest and gain hands-on professional learning. Strong internship performance may lead to full-time roles, while the scheme stresses responsible work where errors may affect quality, consumer safety and organisational reputation.
August 17, 2026
Show AI Summary
SAFTA origin fraud in areca imports allegedly enabled improper duty exemption through false Bangladeshi-origin declarations.
SAFTA preferential duty treatment for areca-nut imports was allegedly misused by falsely declaring goods originating in South-East Asian countries as Bangladeshi origin. Since areca nuts normally attract 100% basic customs duty, the scheme sought to obtain the full SAFTA exemption reserved for qualifying Bangladeshi goods meeting Rules of Origin requirements. The alleged mechanism included routing goods through Bangladesh, changing containers and bags, using improperly obtained Certificates of Origin, and facilitating clearance through importers, Customs Brokers and IEC holders. Investigative findings also indicated cash proceeds, hawala channels and dummy entities.
August 17, 2026
Show AI Summary
FCNR(B) concessional swap facility closure may reduce temporary foreign-currency inflow support and heighten rupee weakness concerns.
The Reserve Bank of India restricted its concessional swap facility for FCNR(B) deposits to deposits mobilised by August 31, advancing the earlier cut-off date. The facility was intended to encourage foreign-currency inflows, while banks mobilise such deposits through attractive interest rates. Market commentary indicated that existing inflows may support the rupee in the near term, but the curtailed availability of the facility could reduce this temporary cushion and increase depreciation risk.
August 16, 2026
Show AI Summary
Temporary tariff suspension for earthquake recovery is sought to ease pressure on affected Colombian businesses.
Temporary suspension of high tariffs on Colombian products has been sought to support business recovery following a severe earthquake declared a natural disaster. The request links tariff relief to economic disruption affecting businesses amid extensive destruction, injuries and missing persons. United States emergency assistance has been provided through food, shelter and health supplies, while no response to the tariff-suspension request had been reported.
August 16, 2026
Show AI Summary
Port-led industrial development and direct export operations aim to expand logistics infrastructure, market access and trade connectivity.
Mission Samudra is proposed as a port-led industrial and logistics development programme linked to the commencement of export-import operations at Vizhinjam seaport. It covers industrial clusters, new cities, port connectivity, logistics, development initiatives, programme management and capacity building. Direct export shipments are intended to improve overseas-market access and reduce transit time and logistics costs, particularly for small and medium enterprises. The framework also anticipates growth in warehousing, cold storage, container freight stations and logistics parks, supported by private participation and road and rail connectivity.
August 16, 2026
Show AI Summary
Electric vehicle export diversification strengthens India's presence across European, Asia-Pacific and Latin American markets through expanding overseas demand.
India's electric motor car exports expanded sharply in the first quarter of 2026-27, reflecting increased international acceptance and competitiveness of India-manufactured electric vehicles. Europe became the principal export destination, led by Spain and the United Kingdom, with further demand across several European markets. Exports also reached Asia-Pacific markets, Nepal and emerging Latin American destinations. This wider market presence reflects improving quality and safety standards, stronger integration into global electric-vehicle supply chains, and diversification of India's electric-vehicle export profile.
August 16, 2026
Show AI Summary
LPG production preparedness requires refiners and upstream producers to maintain capacity and increase output during supply constraints.
Government has established a standing LPG production preparedness framework under which refining companies, oil marketing companies and upstream producers may be directed to increase production during supply constraints. Companies must maintain adequate LPG storage, evacuation and transportation infrastructure and pursue technically and economically feasible production-enhancing measures. Written directions may prescribe production quantities and periods, including restrictions on alternative uses of input streams required for LPG. The production schedule is updated twice yearly to reflect new facilities and added capacity from infrastructure, technology and distribution improvements.
August 16, 2026
Show AI Summary
Free trade agreement market access requires MSMEs, farmers and exporters to meet global quality standards.
Free trade agreements expand market-access opportunities for Indian MSMEs, exporters and producers through reduced or eliminated import duties on traded goods. Textiles, machinery, medicines, seafood and agricultural products can access international markets where they meet global standards and remain competitively priced. Farmers and producers are encouraged to develop export-oriented products, including chemical-free agricultural produce, while MSMEs may use preferential trade access to support manufacturing, exports, employment and growth.
August 15, 2026
Show AI Summary
Chemical-free farming can strengthen agricultural exports by meeting global standards and responding to rising international demand.
Chemical-free farming is urged to meet growing global demand and expand agricultural exports. Agricultural products must meet global parameters to facilitate access to international markets, including markets opened through free trade agreements. Food processing, export-oriented farm production, and global branding of traditional cuisine, millets, spices, fruits and flowers are identified as important elements of agriculture and food production policy.
August 15, 2026
Show AI Summary
Voluntary foreign asset disclosure allows eligible taxpayers to regularise overseas holdings with immunity from further tax, penalties and prosecution.
FAST-DS permits eligible taxpayers to disclose specified undisclosed foreign assets, foreign income, and foreign assets omitted from return schedules. Undisclosed assets or income not previously offered to tax may be declared up to Rs 1 crore on payment of an effective 60 per cent levy, based on fair market value as of 31 March 2026. Assets already offered to tax, or acquired during non-resident status but omitted from the return schedule, may be declared up to Rs 5 crore on payment of a fee. Valid declarations provide immunity from further tax, penalty and prosecution, while declared amounts are excluded from total income.
August 15, 2026
Show AI Summary
Global pharmaceutical leadership is urged through Indian firms achieving top-five status, supported by generic manufacturing and export capacity.
Indian pharmaceutical companies are urged to attain representation among the world's five leading pharmaceutical firms, despite India's established position as a major producer of generic medicines. India has a broad manufacturing base, supplies generic medicines across numerous therapeutic categories, and exports to worldwide markets including highly regulated jurisdictions. Although pharmaceutical exports and the domestic market have expanded, Indian firms have not yet secured positions among the largest global companies. Greater international scale may be supported through acquisitions and expanded established-brand and branded-generic operations.
August 15, 2026
Show AI Summary
Foreign asset voluntary disclosure permits eligible small taxpayers to regularise qualifying assets through tax, additional levy, and statutory immunity.
FAST-DS permits eligible small taxpayers to voluntarily disclose specified foreign assets or foreign income. It covers undisclosed foreign assets or income not offered to tax, subject to an aggregate value threshold of Rs 1 crore, and certain foreign assets omitted from the relevant return schedule, subject to a Rs 5 crore threshold and prescribed fee. Payment comprises 30 per cent tax and an additional equal amount. Disclosed income or investment is excluded from total income, with immunity from further tax, penalty and prosecution under the Black Money Act for the disclosed asset or income.
August 15, 2026
Show AI Summary
Free trade agreement opportunities require MSMEs to meet global standards and expand exports across textiles, machinery, medicines and seafood.
Free trade agreements are presented as export-market opportunities for Indian MSMEs because they reduce or eliminate import duties on a substantial range of traded goods. MSMEs are urged to expand exports of textiles, machinery, medicines and seafood, including shrimp, by meeting global quality standards and offering products competitively. Their export role is linked to self-reliance and their significant contribution to manufacturing, exports, GDP and employment.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

Surrendering of SEZ Projects.

August 17, 2011

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Press Information Bureau
Government of India
Ministry of Commerce & Industry

17-August-2011 17:32 IST

Surrendering of SEZ Projects

             Requests are being received for de-notification of the notified SEZs from time to time. 

 

            From December, 2008 till 31 July, 2011, the Board of Approval on SEZ has approved 33 such cases subject to the refund of duty benefits availed, if any, by the developer. The details of the 33 cases approved by the BOA for denotification are annexed. The reasons for these requests, wherever indicated by the applicants, range from economic meltdown, poor market response, non-availability of skilled labour force, no demand for IT/ITES space and imposition to Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) on Special Economic Zones (SEZs).

 

             In all such cases, where the Board of Approval on SEZ has approved denotification of the SEZ, it is subject to the refund of duty benefits availed, if any, by the developer.

 

 

ANNEXURE

Requests for de-notification considered by BoA

S. No.

Name of the Developer

Location

Sector

Date of approval by  BoA

1

M/s. Shivaji Marg Properties Limited

15, Shivaji Marg

IT/ITES

8th December 2008

2

M/s. DLF Limited

Gandhinagar, Gujarat

IT/ITES

2nd June 2009

3

M/s. DLF Limited

Rai, Sonepat, Haryana

IT/ITES

2nd June 2009

4

M/s. DLF Limited

Bhubaneswar, Orissa

IT/ITES

2nd June 2009

5

M/s. K. Raheja Universal Pvt. Ltd.

Navi Mumbai, Maharashtra

IT/ITES

19th June 2009

6

M/s. Maytas Ventures SEZ Pvt. Ltd.

Gundla Pochampalli village, Ranga Redy District, Andhra Pradesh

Biotech

11th August 2009

7

M/s. Lahari Infrastructure Ltd.

Kondakal village, Shankarpally Mandal, Ranga Reddy District, Andhra Pradesh

Services Sector

5th November 2009

8

M/s. Essar SEZ Hazira Limited

Hazira, Gujarat

Engineering

15th December 2009

9

M/s. Royal Palms India Private Limited

Survey number 169, Aarrey Milk Colony, Goregaon (East) Mumbai, Maharashtra

IT/ITES

15th December 2009

10

M/s. TCG Urban Infrastructure Holdings Limited

Thrikkakara North village, Kanayannur Taluk, Ernakulam District, Kerala

Biotechnology

11th February 2010

11

M/s. Sanvo Resorts Pvt. Ltd.

Panvel, Maharashtra

IT/ITES

11th February 2010

12

Electronics Corporation of Tamil Nadu Limited (ELCOT)

Sholinganallur II and Perumbakkam villages, Tambaram Taluk, Kancheepuram District, Tamil Nadu

IT/ITES

11th February 2010

13

M/s. Estra IT Park Pvt. Ltd.

Mount Poonamallee High Road, Iyyapanthangal, Porur, Chennai, Tamil Nadu

IT/ITES

9th April 2010

14

Unitech Infopark Limited

Village Nallambakkam, Taluk Chengalput, Kancheepuram, Chennai, Tamil Nadu

IT/ITES

9th April 2010

15

M/s. Bata India Limited

villages Jagtala and Bangla, District South 24 Parganas, West Bengal

IT

8th June, 2010

16

M/s. Base Realty Private Limited

Village Hinjewadi, Taluka Mulshi, Pune, Maharashtra

IT/ITES

16th September, 2010

17

M/s. Raheja Universal Limited

Raheja Infocity – 1, Plot No. 2/1/B, Block –D, Trans –
Thane, Maharashtra

IT/ITES

16th September, 2010

18

M/s. JSL Limited

Kalinga Nagar, Orissa

Stainless Steel

16th September, 2010

19

Omnibus Industrial Development Corporation of Daman and Diu and Dadar and Nagar Haveli Limited.

Village Kharadpada, District Naroli of Dadra and Nagar

IT/ITES

18th November, 2010

20

M/s. Medicaps IT Park Private Limited

M/s. Medicaps IT Park Private Limited

IT/ITES

14th January, 2011

21

M/s. Neogen Properties Private Limited

Hindupur, District Anantapur, Andhra Pradesh,

Apparel

14th January, 2011

22

State Industrial Development Corporation of Uttarakhand Limited (SIDCUL)

Dehradun,
Uttarakhand,

IT/ITES

14th January, 2011

23

Maharashtra Industrial Development Corporation Ltd.

Distt Solapur, Maharashtra

Textile Industry

25th March, 2011

24

M/s. Satyam Computer Services Ltd.

Thotlakonda, Visakhapatnam

IT/ITES

31st May, 2011

25

S2tech.com India Private Limited

Gudur Village, Kandukur Mandal, Ranga Reddy District, Andhra Pradesh

Electronic Hardware including IT and ITES

31st May, 2011

26

Maharashtra Industrial Development Corporation Ltd.

District Yavatymal, Maharashtra

Textile Industry

31st May, 2011

27

Mansarovar Industrial Development Corporation

Jodhpur, Rajasthan

Handicraft

31st May, 2011

28

Bengal Shapoorji Infrastructure Development Pvt. Ltd.

A-III, New Town, Rajarhat,
Kolkata, West Bengal

IT/ITES

31st May, 2011

29

M/s. Oval Developers Private Limited

Mouza-Banagram and Sarmasterchowk, District-24 Parganas (South), West Bengal

Electronic Hardware and Software

22nd July, 2011

30

M/s Airmid Developers Limited

Sector – 106, village Pawala Khusrupur, Gurgaon, Haryana

IT/ITES

22nd July, 2011

31

M/s. Yashprabha Enterprises

Village Pothandi, Taluka Chiplun, District Ratnagiri, Maharashtra

Biotechnology

22nd July, 2011

32

Karnataka Biotechnology and Information Technology Services (KBITS)

Electronic City, Phase III, Bangalore, Karnataka

Biotechnology

22nd July, 2011

33

M/s. N.G. Realty Private Limited

Village Rajoda, District Ahmedabad, Gujarat

Engineering

22nd July, 2011

 

     This information was given by the Minister of State for Commerce and           Industry Shri Jyotiraditya M. Scindia in a written reply to a question, in the  Rajya  Sabha today.

 

DS/gk

Topics

Acts Income Tax