Govt extends tax holiday for STPIs, EOUs

Finance Minister P Chidambaram today extended by a year tax holiday schemes for Software Technology Parks of India (STPI) and Export Oriented Units (EOUs). The schemes were to expire on March 31, 2009.

Another key change he proposed in Budget 2008-09 is that public sector refineries under construction will be exempted from Sunset clause under section 80 IB. The refineries were given time till 2012 to commission for availing seven-year tax exemption.