Government has proposed a 5-year holiday from income tax keeping to raise 20,000 hotel rooms for the Commonwealth Games.
New Delhi: Keeping in view a requirement of 20,000 hotel rooms for the 2010 Commonwealth Games, Government on Tuesday proposed a five-year holiday from income tax for new two, three or four-star hotels in Delhi and adjacent districts between April this year and March 2010.
This exemption will also apply to convention centres with a seating capacity of not less than 3,000, Finance Minister P Chidambaram told the Lok Sabha while presenting the 2007-08 budget.
"They should be completed and begin operations in the National Capital Territory of Delhi or in the adjacent districts of Faridabad, Gurgaon, Ghaziabad or Gautam Budh Nagar during the period April 1, 2007 to March 31, 2010," he said.
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