Infrastructure facility deduction expanded to include company-owned projects with government development, operation and maintenance agreements.

Amendment of section 35AD extends tax incentive coverage to businesses engaged in developing, operating and maintaining new infrastructure facilities, subject to ownership by an Indian company, consortium, or statutory authority and an agreement with central, state, local or other statutory bodies. The amendment inserts a qualifying clause in sub-section (5), and adds a detailed definition of "infrastructure facility" listing roads, bridges, rail, highways, water projects, sanitation, solid waste management, ports, airports and inland waterways, and expressly includes developing, maintaining and operating such new infrastructure facilities as specified business activity.

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