A company with vision would immediately spot the overwhelming advantages of the location of Avance business hub. It is easily accessible from any part of the city by efficient public transport systems both road and rail. With ample retail, hospitality, educational and residential developments in the vicinity, this is a dream location of any employee. Access to the huge talent pool of Hyderabad, high public security in the area and a conducive environment for growth, add to the perks of the location. So, it is not surprising that the elite of the corporate world such as Delloitte Consulting, Dell Computers, Oracle have already established their campuses in the neighbourhood.
The SEZ Advantage
AVANCE BUSINESS HUB was the first notified IT/ ITES SEZ to have been developed commercially. The Special Economic Zones Act, 2005 was passed by the Indian Parliament to trigger a large flow of foreign and domestic investment in SEZs, in infrastructure and productive capacity, leading to generation of additional economic activity and creation of employment opportunities in the country.
The incentives and facilities offered to the units operating in a SEZ include*:-
Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units
100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
External commercial borrowing by SEZ units upto US $ 500 million in a year without any maturity restriction through recognized banking channels.
Exemption from Central Sales Tax.
Exemption from Service Tax.
Single window clearance for Central and State level approvals.
Exemption from State sales tax and other levies as extended by the respective State Governments.