Investment-linked deduction for newly commenced industrial, shipping or hotel businesses increases company benefit and extends deduction periods. A new investment-linked deduction permits a deduction of twenty-five per cent of profits and gains from industrial undertakings commencing manufacture or cold storage operation, ships first brought into use, and hotels starting business on or after 1 April 1990, with companies entitled to a thirty per cent rate. The amendment extends previously prescribed deduction durations from nine years to fourteen years, advances a reference date to before 1 April 1995, and increases specified assessment year periods (seven to nine, and nine to eleven for co-operative societies).
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Investment-linked deduction for newly commenced industrial, shipping or hotel businesses increases company benefit and extends deduction periods.
A new investment-linked deduction permits a deduction of twenty-five per cent of profits and gains from industrial undertakings commencing manufacture or cold storage operation, ships first brought into use, and hotels starting business on or after 1 April 1990, with companies entitled to a thirty per cent rate. The amendment extends previously prescribed deduction durations from nine years to fourteen years, advances a reference date to before 1 April 1995, and increases specified assessment year periods (seven to nine, and nine to eleven for co-operative societies).
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