EPC demands continuance of tax holiday

NEW DELHI: Demanding the continuance of tax holiday under section 10A and 10 B of Income Tax Act till 2010, Export Promotion Council has said that proposed Kelkar Committee recommendation to eliminate the sections were sending wrong signals across the industry.
"To achieve a respectable share in the world trade, it is essential that issues related to Export Oriented Units are resolved and specially the committments made to this sector by the Goverment are honoured," EPC Chairman R Veeramani said at a meeting of Rajasthan EOUs at Jaipur recently.
The earnings of the EOUs in the country has increased 14.66 per cent to Rs 28,000 crore in 2001-02 over the previous year, he said, adding, the sector contributed 13.44 per cent to the total export growth of the country during the period.