Budget proposes 5-year tax holiday for new hospitals

February 29th, 2008 - 6:45 pm ICT by admin  

A file-photo of P. Chidambaram

New Delhi, Feb 29 (IANS) India’s national budget for 2008-09 sounded a positive note for healthcare infrastructure as Finance Minister P. Chidambaram has announced a five-year tax holiday to encourage building of hospitals in the country. The finance minister said all hospitals set up particularly in tier-2 and tier-3 cities will be exempt from direct taxes.

However, he added that some large cities would not be included under this scheme.

This tax holiday will be valid between April 1, 2008 and March 31, 2013, during which the hospitals must commence operations.

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