Shringar Cinemas receives Entertainment Tax Exemption for Fame Pimpri Multiplex, Pune

Shringar Cinemas Ltd has announced that the Company has received the Entertainment tax exemption for its FAME Multiplex situated at Pimpri, Pune and the said exemption will be availed by this multiplex with effect from January 12, 2007.

Under the Entertainment Tax Exemption policy, the said Multiplex will enjoy 100% exemption for the first 3 years and 75% exemption of the prescribed rate for the subsequent two years.

Further the Company has informed that, the entertainment tax paid till now by the said Multiplex from May 28, 2006 to January 11, 2007 was Rs 1.15 crores.

Note: The Company has now informed that, the Entertainment Tax exemption will be availed by the Fame Pimpri Multiplex, Pune with effect from "January 13, 2007" and not today i.e. "January 12, 2007" as inadvertently mentioned in the earlier letter."

Source : Equity Bulls

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