A couple of days ago, 7 districts in Andhra Pradesh made headlines when the union government gave them tax rebates for the industrial and all-round development. Now, AP's neighboring state Telangana has surpassed AP in getting tax incentives from the union government.
Telangana has got tax rebates for all the nine backward districts in the region. In a move to boost industrial activity in the state, the union government extended tax incentives for nine backward districts in Telangana, except Hyderabad. The nine districts are Adilabad, Nizamabad, Karimnagar, Warangal, Medak, Mahbubnagar, Rangareddy, Nalgonda and Khammam districts.
Central Board of Direct Taxes, Department of Revenue, Ministry of Finance have notified, 'in exercise of the powers conferred by section 32 and section 32AD of the Income Tax act 1961(43 of 1961), the Central Government hereby notifies the nine districts of Telangana as backward areas under the first proviso to clause (iia) of sub-section(1) of section 32AD of the said act.'