The Direct Taxes Code (DTC), which is expected to be implemented from April 1, 2012, will not provide any location-specific exemptions from the dividend distribution tax or minimum alternative tax for SEZs in the country.
Of the 120 notified SEZs, 35 are in Tamil Nadu and about 70% of them are in tier-2 and tier-3 cities in the state. Revenue secretary Sunil Mitra in an CII interactive session said the deadline of April 1. 2012 for the developers and 2014 for the units for implementing the DTC would not be altered.
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