Tax deduction for infrastructure and specified industrial undertakings: extended period options subject to eligibility conditions and transfer rules. Deductions under substituted sections 80-IA and 80-IB allow eligible industrial undertakings and specified enterprises (infrastructure, telecommunication, ... Summary
Tax deduction for infrastructure and specified industrial undertakings: extended period options subject to eligibility conditions and transfer rules.
Deductions under substituted sections 80-IA and 80-IB allow eligible industrial undertakings and specified enterprises (infrastructure, telecommunication, industrial parks, power, hotels, ships, research, mineral oil, housing and cold chain) to claim prescribed percentage deductions from profits for defined consecutive assessment years, subject to formation, plant use, commencement, ownership, contractual and approval conditions; special computation treats the eligible business as a separate source, intra group transfers are valued at market value for deduction purposes, audited accounts are required for non company assessees, and transfer/amalgamation rules and Government notification powers affect applicability.
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