Start-up deduction extension expands eligibility period, allowing additional incorporations to claim the specified business deduction. Amendment expands the temporal eligibility for the special provision for specified business by substituting the existing incorporation cut-off year with a later year, thereby extending the class of eligible start-ups that may claim the full deduction of profits and gains for the prescribed consecutive assessment years at the assessee's option, subject to the turnover ceiling. The amendment takes effect from the start of the specified financial year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Start-up deduction extension expands eligibility period, allowing additional incorporations to claim the specified business deduction.
Amendment expands the temporal eligibility for the special provision for specified business by substituting the existing incorporation cut-off year with a later year, thereby extending the class of eligible start-ups that may claim the full deduction of profits and gains for the prescribed consecutive assessment years at the assessee's option, subject to the turnover ceiling. The amendment takes effect from the start of the specified financial year.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
