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Centre Extends Tax Incentives for Nine Backward Districts of Telangana

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In order to boost industrial activity in the state, the union government has extended tax incentives for nine backward districts, except Hyderabad, in Telangana. The nine districts are Adilabad, Nizamabad, Karimnagar, Warangal, Medak, Mahbubnagar, Rangareddy, Nalgonda and Khammam.

 

The Central Board of Direct Taxes, Department of Revenue, Union  Ministry of Finance,  has notified that in exercise of the powers conferred by section 32 and section 32AD of the Income Tax act 1961 (43 of 1961), the Central Government hereby notifies the nine districts of Telangana as backward areas under the relevant provisions of  the said act.

 

Accordingly, manufacturing units which are set up between April 1, 2015 to March 31, 2020 will be eligible for tax incentives like additional depreciation and investment allowance under the provisions. (NSS)

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