Tax incentives expanded to cover nationwide infrastructure and power projects, with adjusted eligibility and reserve utilisation rules. Amendments to section 80-IA expand eligible geographic scope beyond the North-Eastern Region, adjust temporal eligibility for power generation ... Summary
Tax incentives expanded to cover nationwide infrastructure and power projects, with adjusted eligibility and reserve utilisation rules.
Amendments to section 80-IA expand eligible geographic scope beyond the North-Eastern Region, adjust temporal eligibility for power generation undertakings, classify industrially backward districts into Category A and B, modify tax holiday durations for different district categories, and redefine "infrastructure facility" to include specified transport and utility projects and highway projects with integrated housing. A special reserve regime exempts profits attributable to non-core highway activities if transferred to and utilised from a reserve for the core project within a prescribed period, otherwise such amounts become taxable.
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