DTC: SEZ: Exemption on Profits for unit holders

Sanjay (Director) (154 Points)

28 July 2010  

Hi,


I have read the latest statements by Hon. FM about SEZ under DTC.

Only *investments* made in SEZ by developers and units holder will be exempted from Income Tax.
Profits will be taxed.

Do I understand this correct ? It will be  a big blow to small IT companies.
The purpose of SEZ / STPI (which will close on 31st March 2011) will be defeated.

Pls advice.

Thx
Sanjay