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of <h1>Clause 141 allows deductions for profits from industrial undertakings under section 80-IB of the repealed Income-tax Act, 1961.</h1> Clause 141 of the Income Tax Bill, 2025, provides for deductions in respect of profits and gains from certain industrial undertakings. For any tax year, if an assessee's gross total income includes profits from a business covered under section 80-IB of the repealed Income-tax Act, 1961, they are eligible for a deduction. This deduction is computed according to the provisions of section 80-IB and is applicable only for the tax years that would have been permissible under the repealed Act.
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