Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Development rebate rules set different deduction rates for ships and machinery based on acquisition and installation conditions. Development rebate under Rule 5B of the Income-tax Rules, 1962 depends on the asset and the relevant time conditions. For a ship covered by section 33(1A), the deduction is 30 per cent of actual cost if acquired before the expiry of seven years from the date it was built, and 20 per cent in other cases. For machinery or plant installed after 31 March 1964, the deduction is 20 per cent for coal mining business if installed before 1 April 1966, and 10 per cent otherwise.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Development rebate rules set different deduction rates for ships and machinery based on acquisition and installation conditions.
Development rebate under Rule 5B of the Income-tax Rules, 1962 depends on the asset and the relevant time conditions. For a ship covered by section 33(1A), the deduction is 30 per cent of actual cost if acquired before the expiry of seven years from the date it was built, and 20 per cent in other cases. For machinery or plant installed after 31 March 1964, the deduction is 20 per cent for coal mining business if installed before 1 April 1966, and 10 per cent otherwise.
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