Tax holiday for new star hotels

Follow Prabhjot Bedi on Twitter Recognising the need for 20,000 more hotel rooms for the Commonwealth Games to be held here in 2010, Union Finance Minister P. Chidambaram on Wednesday proposed a five-year holiday from income tax for new star hotels and convention centres with a seating capacity of not less than 3,000 persons.

Presenting the budget for 2007-08, Mr. Chidambaram said the work on the new two, three or four-star hotels as well as the convention centres should be completed and begin operations in Delhi or in the adjacent districts of Faridabad, Gurgaon, Ghaziabad or Gautam Budh Nagar between April 2007 and March 31, 2010.

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