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of <h1>Small-Scale Rural Industrial Ventures Gain Tax Relief with 20% Profit Deduction for Decade-Long Incentive Program</h1> The statutory provision outlines tax deductions for newly established small-scale industrial undertakings in rural areas. Eligible businesses can claim a 20% deduction on profits for ten consecutive years, subject to specific conditions. These include manufacturing after September 30, 1977, not being a reconstruction of an existing business, employing a minimum number of workers, and operating in a designated rural area. Certain restrictions apply, such as exclusions for mining undertakings and limitations on machinery transfers.
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