Telecom companies, which currently enjoy a tax holiday under Section 80-IA of the Income Tax Act, will have to speed up their plans of amalgamation or demerger to continue enjoying the exemp tion.

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Telecom companies, which currently enjoy a tax holiday under Section 80-IA of the Income Tax Act, will have to speed up their plans of amalgamation or demerger to continue enjoying the exemp tion.

March 15, 2007

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Telecom companies, which currently enjoy a tax holiday under Section 80-IA of the Income Tax Act, will have to speed up their plans of amalgamation or demerger to continue enjoying the exemption. As per amendments proposed in the finance bill, any company undergoing amalgamation or demerger after March 31 will not be able to benefit from the tax holiday.