"Agricultural Income Tax Holiday" under the "Assam Tea Industries Special Incentives Scheme"

About This Scheme

Launched in 2020, the scheme "Assam Tea Industries Special Incentives Scheme (ATISIS)" by the Finance (Institutional Finance) Department, Government of Assam, aims to ensure long-term financial sustainability of the Tea industry and to incentivize manufacturers to move from Crush, Tear, Curl tea to Orthodox tea production. The scheme is implemented by the Finance Department and the Industries & Commerce Department, Government of Assam, through multiple implementing agencies, including banks and the District Industries & Commerce Centre. The applications for this scheme are accepted online through a dedicated portal with a Direct Benefit Transfer mechanism for reimbursement.

Eligibility

- The applicant must be a tea plantation across all sizes. - The applicant must be a tea manufacturing unit manufacturing Crush, Tear, Curl Tea, Orthodox Tea, or Speciality tea including Green tea, Oolong Tea, White tea, Yellow tea and Purple tea. - The applicant must be located entirely in Assam. - The applicant must not have any part of the plantation or manufacturing facility located outside the State of Assam.

Benefits

Benefit Period: 3 years of Agricultural Income Tax holiday. Applicable Financial Years: 2022-23 to 2024-25. Condition: Returns must be filed within the due date; if not filed on the due date, interest and penalty will be applicable.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.