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Policy Initiatives: Seven-year tax holiday for upcoming refineries |
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Bringing to an end the uncertainty over the future of new upcoming oil refineries and giving an impetus to the New Exploration Licensing Policy (NELP) Seventh Round, Union Finance Minister P. Chidambaram has extended seven-year income-tax holiday for refineries starting operations by March 31, 2012. However, he did not clarify whether the same tax breaks would be available for oil and gas exploration and production.
Replying to the debate on the Finance Bill in the Lok Sabha last week, Mr. Chi ...
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