Tax deduction under section 80-IA revised to specify qualifying commencement windows and staged exemption for new undertakings.

The amendment sets distinct qualifying commencement periods for general industrial undertakings and for undertakings in industrially backward States or those engaged in power generation and cold storage, and allows governmental extension by notification. It substitutes the deduction scheme so that general undertakings receive a reduced proportion of profits as deduction, while backward area and power/cold storage undertakings receive full exemption for initial assessment years and a reduced proportion thereafter, with a higher substituted rate when the assessee is a company.

---

---

---