Budget 2012: Assocham's recommendations for cement industry

With the Budget 2012 to be presented by the Finance Minister, Pranab Mukherjee on March 16, The Associated Chambers of Commerce and Industry of India (Assocham) has raised certain issues that pertain to the cement industry. The Chamber has also recommended a few measures to the government for addressing the same.

Exemption under section 80-IA to Cement Industry

Recommendation: As per the provisions of section 80-IA(4) of the Act, deduction is allowed on income earned by any enterprise carrying on the business of (i) developing, or (ii) operating and maintaining or, (iii) developing, operating and maintaining any infrastructure facility. It is recommended that benefits of section 80-IA of the Act should also be extended to Cement Industry.