Subsidy of 50%, upto Rs. 0.05 million,
of investments in anti-pollution equipment
Reservation of 10% factory sheds
for women enterpreneurs to be allotted at Jhandewalan
Complex
Finance at
the rate of 12.5% through Delhi Finance Corporation(DFC)
for women entrepreneurs
DFC term
loans for small and medium scale industries
DFC soft
loans and seed capital for investors who cannot afford
to make promotors' contriution
DFC
guidance for new entrepreneurs on identifying projects
and filling loan forms
Delhi State Industrial Developmen Corp. (DSIDC) support
for investors on project evaluation and market surveys.
DSIDC assistance
in marketing of SSI products
Incentives for
the Banking Sector
Amendment of provisions relating
to deduction for provision for bad and doubtful debts
in the case of Banks
Under the existing
provisions of section 36 (1)(viia), in computing the
business income of a scheduled bank (not being a bank
incorporated by or under the lows of a country outside
India) or a non-scheduled bank, deduction is allowable
in respect of any provision for bad and doubtful debt
made by such bank at an aggregate of the amount not
exceeding 5% of the total income and 10% of the aggregate
average advances made by its rural branches.
In
order to strengthen the financial position of the banks,
the Bill proposes to give an option to such banks, for
a period of five years to claim a deduction for any
provision made by it in respect of doubtful or loss
assets in accordance with the guidelines issued by the
Reserve Bank of India for an amount not exceeding 5%
of such loss or doubtful assests.
The proposed
amendment will take effect from 1st April, 2000 and
will, accordingly, apply in relation to the assessment
year 2000-2001 and subsequent years up to the assessment
year 2004-2005.
Deduction for
interest payable to co-operative banks to be allowed
on actual payment basis
The existing
provisions of section 43B interalia, allows deduction
in respect of interest payable on any term loan from
a scheduled bank of actual payment basis and not on
accrual basis. The Bill proposes to include a co-operative
Bank within the meaning of a scheduled bank for the
purposes of allowing deduction in respect of interest
on such term loans.
The proposed
amendment will take effect from 1st April, 2000 and
will, accordingly, apply in relation to assessment year
2000-2001 and subsequent years.
