What you get
- Purchase of Land for creating IT Office Space: A one-time rebate at ₹40,000 per male employee (₹50,000 per female employee) will be provided up to 60% of the cost of the land as determined by the Consideration Amount (value as defined in the Stamp Registration/ Sale Deed). | - Purchase of Built-Up office space for IT operations: A one-time rebate will be provided up to 20% of the cost of the space as determined by the Consideration Amount (value as defined in the Stamp Registration/ Sale Deed). | NOTE 1: The maximum rebate under this provision for land purchased would be ₹1,50,00,000 and for the purchase of Built up space would be ₹1,00,00,000. | NOTE 2: A Unit can avail of any one of the above-mentioned rebate options. To avail of this rebate, the Units should have direct employment proportional to the built-up space created at the rate of up to 80 sq ft per employee. Direct employees should have been on the rolls of the unit for a minimum period of 12 months. | - Based on the number of employees of Goan origin or Goan Graduates, the percentage of incentives under clauses 2.1 and 2.2 above shall be disbursed on a pro-rata basis as under: | - Upto 30% of employees on rolls of the company: 50% | - 30% to 60% employees on rolls of the company: 75% | - More than 60% of employees on the rolls of the company: 100%. | - For Existing Units, rebates may be claimed on transactions that are made up to 3 years prior to the notification of the policy. | - For New Units, the rebate may be availed on transactions made post-notification of the policy. Prescribed guarantees would be taken from the sponsors of the project for the rebate. | NOTE: The benefits under this scheme are subject to budgetary allocation. No Promissory Estoppel shall be applicable if benefits are discontinued in case the allocation is exceeded.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
What is the maximum rebate amount for the purchase of land under the "Land/Built-Up Area Rebate Scheme"?
The maximum rebate for land purchase is [?]1,50,00,000 as per the Stamp Registration/ Sale Deed value.
Can a unit avail both rebates for land and built-up office space simultaneously?
No, a unit can avail only one of the rebate options mentioned for land or built-up space.
How is the incentive percentage calculated based on the number of employees of Goan origin or Goan Graduates?
The percentage of incentives is calculated on a pro-rata basis, varying from 50% to 100% based on the employee composition.
What is the timeline for claiming rebates for Existing Units on transactions made before the policy notification?
Rebates for Existing Units can be claimed on transactions made up to 3 years prior to the policy notification.
What guarantees are required for claiming rebates for New Units after the policy notification?
Prescribed guarantees from the sponsors of the project are required for claiming rebates for New Units.
What is the eligibility criterion for a unit to claim benefits under the scheme?
Units must have operations in Goa and be one of the specified entities, as per the Information Technology Policy Schemes.
What is the linkage requirement for the bank accounts of the unit and/or its partners/directors?
The bank accounts should be linked to Aadhaar for the unit and/or its partner(s)/director(s).
How long should employees be on the rolls for a unit to claim the rebate?
Employees should be on the rolls for a minimum period of 12 months for the unit to claim the rebate.
What targets must a unit achieve to claim the incentives mentioned in the business plan?
The unit should achieve both investment and employment targets mentioned in the business plan to claim incentives.
What is the disbursement timeline for incentives under the scheme?
Incentives are disbursed in three tranches: D+90 days from application approval, subject to evaluation at the end of each installment period.
When can companies apply for the scheme after incurring relevant expenditure?
Companies can apply quarterly/bi-annually/annually after incurring the relevant expenditure.
How is the eligibility of units verified for subsequent installments of the subsidy?
The 3-year business plan with projected investment and employment targets is used for evaluation at the end of each installment period.
How is the rebate reimbursed to companies?
The rebate is reimbursed in three tranches post Commercial Operation Date or from the date of notification of the policy, whichever is later.
Can units claim rebates on transactions made before the policy notification?
Yes, Existing Units can claim rebates on transactions made up to 3 years prior to the notification of the policy.