Ministry of Commerce & Industry

SEZs in Karnataka

Dated: 10 JUL 2019

Total 62 proposals for setting up of Special Economic Zones (SEZs)in Karnataka have been accorded formal approval under the SEZ Act, 2005.  Presently, 51 SEZs are notified, out of which 31 SEZs are operational. 

No such proposal has been received to declare areas surrounding in Chikkodi in Karnataka as a Special Economic Zone.  Setting up of SEZs is primarily private investment driven initiative.

The details of SEZs in Karnataka are given below:

List of SEZs in Karnataka
Sl. No.	Name of the developer	Location	Type of SEZ	SEZ status
	DivyasreeTechnopark	Kundalahalli Village, KrishnarajapuramHobli, Bangalore East Taluk, District Bangalore, Karnataka	IT/ITES enabled services	Notified/ Operational
	Manyata Embassy Business Park	Rachenhalli&Nagavara Village, Bangalore District, Karnataka	IT/ITES	Notified/ Operational
	WIPRO Limited	Doddakannelli Village, VarthurHobli, Sarjapur Road, Bangalore, Karnataka	IT	Notified/ Operational
	WIPRO Limited	Doddathogur Village, BegurHobli, Electronic City, Bangalore, Karnataka	IT	Notified/ Operational
	Vikas Telecom Private Limited	Outer Ring Road, Devarabeesanhalli Village, VarthurHoblic, Bangalore East Taluk, Karnataka	IT/ITES	Notified/ Operational
	RMZ Ecoworld Infrastructure Pvt. Ltd.	Devarabeesanahalli, Bhoganahalli and Doddakanahalli, Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Cessna Business Park Pvt. Ltd.	KadubeesanahalliVill, VarthurHobli, District Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Tanglin Development Ltd.	Global Village Pattengere/ Mylasandra Villages, Off Mysore Road, RVCE Post, Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Infosys Technologies Limited	Hebbal Industrial area, District Mysore, Karnataka	IT/ITES	Notified/ Operational
	Information Technology Park Limited	Sadaramangala and PattandurAgrahara Village, Whitefield Road, District Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Karnataka Industrial Area Development Board (KIADB)	Village Perumenahally, Kokkanagatta, SumudraVally, Hamumanthapura, Taluk Hassan, Karnataka	Textile	Notified/ Operational
	Infosys Technologies Limited	Hebbal Industrial area, District Mysore, Karnataka	IT/ITES	Notified/ Operational
	HCL Technologies Ltd.	Jigani Industrial Area, Attibele Taluka, Bangalore, Karnataka	IT/ ITES	Notified/ Operational
	Pritech Park	Bellandur Village, VarthurHobli, Bangalore East Taluk,  Bangalore Urban District, Karnataka	IT/ITES	Notified/ Operational
	Karnataka Industrial Area Development Board (KIADB)	District Hassan, Karnataka	Pharmaceuticals	Notified/ Operational
	Aspen Infra Padubidri Private Limited (AIPPL)	Nadasalu, Nandikooru, Polimaru and Hejamadi Villages in Udupi Taluk, Karnataka	Engineering	Notified/ Operational
	Karle Infra Pvt. Ltd.	Nagavara Village, North Bangalore Taluka, Karnataka	IT/ITES	Notified/ Operational
	Mangalore SEZ Limited	Baikampady Near Mangalore, Dakshina Kannada District, Karnataka	Multi Product	Notified/ Operational
	Bagmane Construction Pvt. Ltd	Mahadevapura, K R Puram, Bangalore North, Karnataka	IT/ITES	Notified/ Operational
	Quest SEZ Development Private Limited	Hattargi and Mastiholi villages, Hukkeri Taluk, Belgaum District, Karnataka	Precision Engineering Product	Notified/ Operational
	Gopalan Enterprises (India) Private Limited.	Village Mahadevpura and Kaggadaspura, K.R. Puram, Whitefield, Bangalore, Karnataka.	IT/ITES	Notified/ Operational
	Milestone Buildcon Private Limited	Village Chokkanahalli, Taluka YelahankaHobli Bangalore North, Karnataka	IT/ITES	Notified/ Operational
	Karnataka State Electronics Development Corporation Limited (KEONICS)	Village Machenahalli and Nidige, District Shimoga, Karnataka	Electronics Hardware and Software/ ITES	Notified/ Operational
	Larsen & Toubro Limited	KIADB Industrial Area, Taluka Hebbel-Hootagally, District Mysore, Karnataka	IT/ITES	Notified/ Operational
	Wipro Limited	Kodathi village, VarthurHobli, Sarjapur Road, Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Karnataka Industrial Areas Development Board (KIADB)	Village Bhatramaranahalli. Kavadadasanahalli, Dummanahalli, Talukas Bangalore North and Devanahali, District Bangalore, Karnataka	Aerospace and Industry	Notified/ Operational
	Infosys Limited	Gokul Village, within the limits of Hobli, Hubli Taluk, District Dharward, Near Airport Hubli, Karnataka	IT/ITES	Notified/ Operational
	Amin Properties LLP	Pujanahalli Village, Devanahalli Taluk, Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Bagmane Developers Pvt. Ltd.	Outer Ring Road, Doddanekundi Circle, Marathalli Post, Bengaluru, Karnataka	IT/ITES	Notified/ Operational
	RGA Infrastructure	Sy. No. 31/1, Chikkankannelli Village, VarthurHobli, Bangalore East Taluk, Bangalore, Karnataka	IT/ITES	Notified/ Operational
	Biocon Limited.	Anekal Taluk, Bangalore, Karnataka	Bio-technology	Notified/ Operational
	Karnataka Industrial Areas Development Board (KIADB)	Villages Pajeer and Kairangala, District Mangalore Dakshina Kannada, Karnataka.	IT/ITES	Notified
	Ittina Properties Pvt. Ltd.	Bagur village, AnugondanahalliHobli, Hoskote Taluk, Bangalore Rural District, Karnataka	Electronic Hardware and Software including IT/ITES	Notified
	Gopalan Enterprises (India) Private Limited.	Hoodi Village, K.R. Puram, Whitefield, Bangalore, Karnataka.	IT/IT enabled services	Notified
	Opto Infrastructure Limited	Village kallahalli, Taluka Nanjungud, District Mysore, Karnataka	Electronic Hardware and Software including IT/ITES	Notified
	Brigade Enterprises Pvt. Ltd.	Ganjimutt, EPIP Industrial Area, Taluka Mangalore, Dakshin Kannada District, Karnataka	IT/ITES	Notified
	Opto Infrastructure Limited	Village DoddaBasavanahalli and Chikkabasavanahalli, Talukas ShanthigramaHobli and Hassan, District Hassan, Karnataka	Electronic Hardware and Software including IT/ITES	Notified
	Renaissance Designbuild Private Limited	Plot No. 47 of Koorgally Industrial Area, Village Koorgally, HobliIlawala, Taluka Mysore, Distt. Mysore, Karnataka	IT/ITES	Notified
	Gulf Oil Corporation Limited	Village  Kattigenahalli and Venkatala, HobliYelahanka, District Bangalore, Karnataka	IT/ITES	Notified
	Brooke Bond Real Estates Private Limited	Bangalore, Karnataka	IT/ITES/BPO/EH	Notified
	Gopalan E-Park	Village Koorgalli, Itwala, Hobli, Mysore Taluk, Mysore District, Karnataka	Electronic Hardware and Software including ITES	Notified
	Infosys Technologies Limited	Villages Borgunte, surjapur and billapur, Taluka Anekal, District Bangalore, Karnataka	IT/ITES	Notified
	Karnataka Industrial Areas Development Board (KIADB)	Gamanagatti, Hubli Taluk, Dharwad District, Karnataka	IT/ITES	Notified
	Saltire Developers Private Limited	Outer Ring Road, Rachanahalli Village, Nagavara, Bangalore, Karnataka	IT/ITES	Notified
	Infosys Limited	Electronic City, Doddathogur Village, BegurHobli, Bangalore, Karnataka	IT/ITES	Notified
	Information Technology Park Limited	Sadarmangala Village, Sadaramangala Industrial Area,Whitefield, Bengaluru, Karnataka	IT/ITES	Notified
	Embassy Property Developments Private Limited	Outer Ring Road, Rachenahalli Village, Bangalore, Karnataka	IT/ITES	Notified
	Modern Asset	Survey No. 2/1 & 2/2, Venkatala Village, YelahankaHobli, , Bangalore, Karnataka	IT/ITES	Notified
	Modern Asset (Phase – II)	Survey No. 2/2, Venkatala Village, YelahankaHobli, , Bangalore, Karnataka	IT/ITES	Notified
	L&T Construction Equipment Limited (Reality Division) SEZ-I	Byatarayanapura Village, YelahankaHobli, Bangalaru North, Bangalaru, Karnataka	IT/ITES	Notified
	L&T Construction Equipment Limited (Reality Division) SEZ-II	Byatarayanapura Village, YelahankaHobli, Bangalaru North, Bangalaru, Karnataka	IT/ITES	Notified
	Golden Gate Developers Pvt. Ltd	JalaHobli, Bangalore, Karnataka	IT/ ITES	Formal Approval
	Concord Investments (Bangalore)	Bangalore, Karnataka	IT/ITES	Formal Approval
	Bagmane Developers Pvt. Ltd.	Raman Nagar, KR Puram, Bangalore North, Karnataka	IT/ITES	Formal Approval
	High Street Developers Private Limited	Srirangapatna Taluk, Mandya District, Karnataka	IT/ITES	Formal Approval
	Gopalan Enterprises India Pvt. Ltd.	Kundalahalli and Nallurahalli villages K.R. Puram Hobli, Bangalore, Karnataka	Biotech	Formal Approval
	Poornimadevi Tech Park Private Limited	Sulikere village, KengariHobli, Bangalore South Taluk, Bangalore, Karnataka	IT/ITES	Formal Approval
	Wipro Limited	Belagola Industrial Area, Mogarhalli village, BelagolaHobli, Srirangapatna Taluk, Mandya District, Mysore, Karnataka	IT/ITES	Formal Approval
	ISPRL FTWZ Padur (Indian Strategic Petroleum Reserves Ltd.)	Padur, Karnataka	FTWZ	Formal Approval
	Manipal ETA Infotech Limited	Agara and Jakkasandra village, BegurHobli, Bengaluru, Karnataka	Electronic Hardware and Software including IT/ITES	Formal Approval
	Jubilant Infrastructure Limited	Kallahalli village, Nanjangud Taluk, Mysore District, Karnataka	Biotech (Pharma)	Formal Approval
	Oracle India Private Limited	Kadubeesanahalli Village, VarthurHobli, Outer Ring Road, Bangalore East Taluk, Bangalore, Karnataka	IT/ITES	Formal Approval

This information was given by the Minister of Commerce and Industry, PiyushGoyal, in a written reply in the Lok Sabha today.

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(Release ID: 1578141)

 

MINISTRY OF LAW AND JUSTICE

(Legislative Department)

New Delhi, the 8th July, 2019/Ashadha 17, 1941 (Saka)

The following Act of Parliament received the assent of the President on the 6th July, 2019, and is hereby published for general information:—

THE SPECIAL ECONOMIC ZONES (AMENDMENT) ACT, 2019

NO. 8 OF 2019

[6th July, 2019.]

An Act to amend the Special Economic Zones Act, 2005.

BE it enacted by Parliament in the Seventieth Year of the Republic of India as follows:—

1. (1) This Act may be called the Special Economic Zones (Amendment) Act, 2019.

     (2) It shall be deemed to have come into force on the 2nd day of March, 2019.

Amendment of section 2.

2. In section 2 of the Special Economic Zones Act, 2005, in clause (v),—

(i) after the words "local authority", the words ", trust or any entity as may be notified by the Central Government" shall be inserted;

(ii) for the words "authority or company", the words "authority, company, trust or entity" shall be substituted.

Repeal and savings.

3. (1) The Special Economic Zones (Amendment) Ordinance, 2019 is hereby repealed.

(2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under this Act.

————

DR . G. NARAYANA RAJU,

Secretary to the Govt. of India.

 

Press Information Bureau 
Government of India
Ministry of Finance

09 JUL 2019

Extension of last date for filing IT returns

            Government has recently changed Form 16 and Form 24 Q to bring more disclosures.  In order to enable pre-filling of return of income of salaried taxpayers, the Government has amended Form No. 16 (certificate for tax deduction) and Form No. 24Q (quarterly statement of tax deducted) vide notification dated 12th April, 2019, to include more detailed information in these forms.

These forms, inter alia, provide for the following additional information: 

(i) Clause wise details of various allowances exempt under section 10 of the Income-tax Act, 1961 (“the Act”);

(ii) Amount of standard deduction;

(iii) Section wise details of deduction under Chapter VIA of the Act;

(iv) Details of rebate under section 87A of the Act;

(v) PAN of the lender, if the interest on housing loan is claimed under section 24(b) of the Act on loan taken from a person other than a Financial Institution or the employer.
The purpose of amendment in these forms was to reduce compliance burden of employers (since Form No 16 can now be downloaded online and there is common format of reporting), to enable pre-filling of income tax return forms (since the information sought in income tax return forms has now been aligned with the information in these forms) and to enable e-verification of various details in income tax returns. 

            Considering the practical difficulties of taxpayers, the due date for issue of Form No. 16 has already been extended from 15th June, 2019 to 10th July, 2019. 

            Representations have been received from certain quarters but, no specific proposal to extend the last date for filing IT returns for salaried class and others is under consideration at present.

This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs in a written reply to a question in Lok Sabha today.

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Press Information Bureau 
Government of India
Ministry of Finance

05 JUL 2019

Stand-Up India Scheme extended till 2025

The Stand Up India Scheme has been extended upto the year 2025. This was stated by the Union Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman while presenting the Union Budget 2019-20 in the Parliament today. “Stand-Up India Scheme has delivered enormous benefits. The country is witnessing emergence of thousands of entrepreneurs from women and also from the Scheduled Castes and Scheduled Tribes, most of them assisted to set up their businesses and industry with capital provided under the Stand-Up India Scheme”, she said. The Minister said that banks will provide financial assistance for demand based businesses under this scheme, including for acquisition of scavenging machines and robots. 

The Finance Minister said that the Government also proposes to streamline multiple labour laws into a set of four labour codes which will ensure the standardisation and streamlining of the process of registration and filing of returns, which is further expected to reduce the disputes.

Highlighting the achievements of the Government in the field of skill development, the Finance Minister said that through the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), the Government enables about 10 million youth to take up industry-relevant skill training. To prepare the youth for the future and also to take up jobs overseas, the Government will increase focus on skill sets needed abroad including language training, the Minister explained. She also added that focus shall be given to new-age skills like Artificial Intelligence (AI), Internet of Things, Big Data, 3D Printing, Virtual Reality and Robotics, which are valued highly both within and outside the country, and offer much higher remuneration. 

The Finance Minister, Smt. Nirmala Sitharaman said that under Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), the Government contribution to the Pension Scheme has been increased from 8% in 2016-17 to 12% for both Employees Provident Fund and Employee’s Pension Scheme for all sectors w.e.f. 01.04.2018. As a result of this measure, number of beneficiaries increased by almost 88 lakhs during FY 2018-19. As on 31.03.2019, total beneficiaries under the Scheme are 1,18,05,000 and the establishments benefitting are 1,45,512. 

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Press Information Bureau 
Government of India
Ministry of Finance

05 JUL 2019

Tax rates for individuals having taxable income from Rs. 2 cr - 5 cr and Rs. 5 cr & above to be increased by around 3 % and 7 % respectively

The effective tax rates for the higher income group individuals having taxable income from Rs. 2 crore to Rs. 5 crore and  Rs. 5 crore and above is proposed to be increased by around 3 percent and 7 percent  respectively. Presenting the General Budget 2019-20 in the Parliament today, Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said, “In view of rising income levels, those in the highest income bracket need to contribute more to the Nation’s development”. Thanking the taxpayers, she said that they are playing a major role in Nation building.

Referring to several measures taken in the past to alleviate the tax burden on small and medium income earners, the Minister said, “Those having annual income upto Rs. 5 lakh are not required to pay any income tax”. This includes self-employed as well as small traders, salary earners, and senior citizens, she added.

Tax Revenue Up

Due to slew of efforts taken by the Government, the direct tax revenue has significantly increased by over 78 percent from Rs. 6.38 lakh crore in Financial Year 2013-14 to around Rs. 11.37 lakh crore in Financial Year 2018-19. The Minister stated that the increase has been significant in last couple of years. The Direct Tax revenue grew by 19.13 percent to Rs. 10, 02, 741 crore in 2017-18 (Rs. 8, 41, 713 crore in 2016-17) and by 13.46 percent in 2018-19. The number of taxpayers also increased by approximately 48 percent over the period 2013-14 to 2017-18, from 5.71 crore taxpayers to 8.4 crore taxpayers, due to various initiatives and taxpayer outreach programmes undertaken by the Government.

Relief in Levy of Securities Transaction Tax (STT)

In her speech, the Finance Minister proposed to give relief in levy of Securities Transaction Tax by restricting it only to the difference between settlement and strike price in case of exercise of options.

Additional Deduction of Interest for Affordable Housing

In order to provide a further impetus to affordable housing, the Minister proposed to allow an additional deduction of up to Rs.1,50,000/- for interest paid on loans borrowed up to 31^st March, 2020 for purchase of an affordable house valued up to Rs. 45 lakh. Therefore, a person purchasing an affordable house will now get an enhanced interest deduction up to Rs. 3.5 lakh. This will translate into a benefit of around Rs.7 lakh to the middle class home-buyers over their loan period of 15 years.

For realisation of the goal of ‘Housing for All’ and affordable housing, a tax holiday has already been provided on the profits earned by developers of affordable housing. Also, interest paid on housing loans is allowed as a deduction to the extent of Rs. 2 lakh in respect of self-occupied property.

Promoting Electric Vehicles

To make Electric Vehicles affordable to consumers, the Minister said that the Government will provide additional income tax deduction of Rs. 1.5 lakh on the interest paid on loans taken to purchase electric vehicles. This amounts to a benefit of around Rs. 2.5 lakh over the loan period to the taxpayers who take loans to purchase electric vehicle. Considering India’s large consumer base, the she stated, “We aim to leapfrog and envision India as a global hub of  manufacturing of Electric Vehicles. Inclusion of Solar storage batteries and charging infrastructure in the above scheme will boost our efforts”. The Government has already moved GST council to lower the GST rate on electric vehicles from 12% to 5%, she added.

Level Playing Field for Non Banking Financial Companies (NBFCs)

Recognising the increasingly important role of NBFCs in India’s financial system and to provide level playing field, the Finance Minister has proposed to tax the interest on bad or doubtful debts in the year in which it is actually received. Presently this is allowed for scheduled banks, public financial institutions, state financial corporations, state industrial investment corporations, cooperative banks and certain public companies like housing finance companies.

Measures to promote the International Financial Services Centre (IFSC)

To promote IFSC in GIFT City, the Finance Minister proposed to further provide several direct tax incentives to an IFSC including 100 percent profit-linked deduction under section 80-LA in any ten-year block within a fifteen-year period, exemption from dividend distribution tax from current and accumulated income to companies and mutual funds, exemptions on capital gain to Category-III AIF and interest payment on loan taken from non-residents.

Compulsory Filing of Return

The General Budget 2019-20 proposes to make return filing compulsory for persons, who have deposited more than Rs. 1 crore in a current account in a year, or who have expended more than Rs. 2 lakh on foreign travel or more than Rs. 1 lakh on electricity consumption in a year or who fulfils the prescribed conditions, in order to ensure that persons who enter into high value transactions also furnish return of income. It is also proposes to provide that a person whose income becomes lower than maximum amount not chargeable to tax due to claim of rollover benefit of capital gains shall also be required to furnish the return.

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