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 2020 amends Income-tax Act section 80-IB, mandating audit reports for industrial deductions from April 2020.</h1> Clause 37 of the Finance Bill, 2020 amends section 80-IB of the Income-tax Act, which concerns deductions for profits and gains from certain industrial undertakings. The amendment modifies sub-sections (7A), (7B), (11B), and (11C) to require that the assessee submit an audit report in a prescribed form, signed and verified by an accountant as defined under section 288, before the date specified in section 44AB. This change is effective from April 1, 2020, and applies to the assessment year 2020-2021 and subsequent years.
TaxTMI 
TaxTMI 
