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Punjab Announces Concessions For It Sector

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Punjab announces concessions for IT sector

Punjab Newsline Network

Sunday, 23 October 2011

CHANDIGARH: The Punjab Government announced special concessions for I.T. sector with an aim to attract big investment in the state.

Disclosing this here today Industries minister Mr. Tikshan Sud said that after Mohali, Punjab is all set to make new I.T. parks in Kapurthala and S.B.S. Nagar. He said that under the concessions I.T. companies would get exemption from clearance from pollution control board and Punjab Apartment and Regulation Act. He said that Punjab Government would provide Electricity Duty Exemption to captive power units installed by IT units and Electricity Duty exemption to IT / knowledge units for five years. Besides that IT companies would also get exemption from stamp duty and registration fees for land transfer/allotted by PICTCL and 100% stamp duty exemption (first scale transaction ) on purchase / lease of built up office space within constructed IT park. Mr. Sud said that no change of Land Use (CLU) charges and EDC to be levied on any component of integrated IT park.

He said that exemption from inspection under various labour laws would also be provided to IT companies but these exemptions would not violate any right of labour.

He said that Punjab Government has create a fund of Rs. 20 crore to help the small and medium entrepreneurs in the IT sector and provision for grant of subsidy and financial support to the IT companies for obtaining quality certification. He said that capital subsidy 20% of fixed capital investment in a project subject to ceiling of Rs. 20 Lac to be given to first 10 SME units in the IT parks notified by PICTC.

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