Lok Sabha clears tax bill to boost electronics manufacturing, ease investment rules
· economictimes.indiatimes.com
The Lok Sabha approved a bill promoting domestic electronics manufacturing and foreign investment. Foreign firms producing electronics locally will receive a fifteen-year income-tax exemption. This incentive also extends to companies supporting electronics production and the rough diamond industry. The legislation simplifies data centre operations for foreign cloud companies in India. It also revises tax rules for offshore fund managers relocating operations here.
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