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GOVERNMENT OF INDIA
Ministry of Finance
DEPARTMENT OF REVENUE
UNSTARRED QUESTION NO. 1279
ANSWERED ON TUESDAY, DECEMBER 17, 2013 / 26, AGRAHAYANA, 1935 (SAKA)
Tax Benefits for Companies Hiring Ex-Servicemen
1279: SHRI RAJEEV CHANDRASEKHAR:
Will the Minister of FINANCE be pleased to state:
(a) whether Government proposes as a part of Government programme, to grant tax incentives/benefits to companies who agree to hire retired/released Armed Forces veterans;
(b) if so, by when this is likely to be implemented; and
(c) if not, the reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI J.D. SEELAM)
(a) & (b): No Sir, there is no such proposal.
(c) Tax incentive is not granted for employing any particular category of employees. However, to incentivise employment in general, section 80JJAA of the Income-tax Act provides for deduction to an Indian company engaged in manufacture of goods, of an amount equal to 30% of additional wages paid to new regular workmen employed by the company, subject to the conditions specified therein.