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of <h1>New Section 35AD Offers 100% Tax Deduction for Capital Expenditures in Specified Businesses Starting April 2010</h1> Clause 13 of the Finance (No. 2) Bill, 2009, introduces section 35AD to the Income-tax Act, effective April 1, 2010. It allows a 100% deduction for capital expenditures incurred exclusively for specified businesses, excluding costs for land, goodwill, or financial instruments. Specified businesses include setting up and operating cold chain facilities, warehousing for agricultural produce, and cross-country natural gas or petroleum pipeline networks. Conditions include that the business is not formed by reconstructing existing businesses or using previously used machinery. The amendment applies from the assessment year 2010-2011 onwards.
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