Ten more projects by Indian companies exempted from tax

Oct 17, 2023, 2:02 AM

The Finance Ministry has added more projects by Indian companies to the list of projects exempted from tax under the Income Tax Act.

The President has the authority to grant special income tax exemptions for business projects and sectors. In February this year, 10 projects were exempted from tax.

The Finance Ministry on Monday released an updated list of 10 more projects exempt from tax. The list includes projects awarded to Indian companies.

The tax-exempt projects are:

Water and sewerage projects in six islands by Triveni Engineering and Industries Ltd.
Project awarded to JMC for construction of 2000 flats in Hulhumale' Phase 2
Project awarded to STUP Construction for the development of Hanimaadhoo Airport
Addu city land reclamation and beach protection project awarded to Van Oord India Pvt Ltd.
Project awarded to Rinak India Ltd. for the development of Felivaru
Project awarded to NBCC for construction of 2000 flats in Hulhumale' Phase 2
Project awarded to Renatus for construction of 2000 flats in Hulhumale' Phase 2
Project awarded to Varindera Constructions Limited for construction of 2000 flats in Hulhumale' Phase 2
Project awarded to Renatus for development of Gan International Airport
Project awarded to STUP Construction for development of Gan International Airport

Finance Ministry Tax

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