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of <h1>Section 80J deduction for profits from newly established industrial undertakings, ships or hotels with eligibility and limits</h1> Section 80J grants a deduction for profits from newly established industrial undertakings, ships or hotel businesses for the initial assessment year and the next four years (six for co-operative societies), limited to a percentage (generally 6%, with higher rate for certain companies) of capital employed computed by prescribed rules. Eligibility requires new formation (no reconstruction/splitting or prior-use machinery/buildings beyond limited exceptions), specified commencement periods, employment thresholds for factories, and approvals for hotels. Shortfalls may be carried forward for set years. Non-company claimants must furnish audited accounts; transfers between related businesses are valued at market value and assessing authorities may adjust profits or exclude classes by notification.
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