Govt ends tax break for wind-power projects

Written by Bloomberg | Updated: Apr 3 2012, 06:04am hrs
India ended a tax break for wind farms that helped drive 70% of installations last year in the worlds third-largest market for turbines.

Starting April 1, wind power projects can no longer claim accelerated depreciation at the rate of 80% on the cost of their equipment, according to a circular on the website of income tax department.

Projects built after March 31 can only claim the standard depreciation rate of 15%, the tax department said.