TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2011 amends Section 35AD to expand tax deduction for affordable housing and fertilizer businesses.</h1> Clause 6 of the Finance Bill, 2011 amends section 35AD of the Income-tax Act to expand the definition of 'specified business' for tax deduction purposes. Effective April 1, 2012, new clauses (ad) and (ae) include businesses developing affordable housing projects and fertilizer production as specified businesses. The amendment also removes the term 'new' from 'new hotel' and 'new hospital' in the definition, applicable retrospectively from April 1, 2011. These changes allow businesses in these sectors to qualify for deductions from the assessment year 2012-2013 onward, enhancing incentives for investment in these areas.
TaxTMI 
TaxTMI 
