CONTINUATION OF TAX SOPS FOR EOUS SOUGHT

The Export Promotion Council for EOUs & SEZ Units (EPCES) on Tuesday sought continuation of the income tax exemption available under Section 10B of the Income Tax Act for Export-oriented Units for encouraging manufacturing activity, employment and value addition. The exemption will be available for these units only till March 31, 2009. At a pre-Budget meeting with finance ministry officials LB Singhal, director general, EPCES said that the scheme had performed exceedingly well since its inception and exports from EOUs were approximately Rs 55,500 crore in the year 2006-07 – www.economictimes.com