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of <h1>Tax Break for Indian Manufacturers: 30% Deduction on New Worker Wages Under Section 80JJAA for Three Years</h1> The statutory provision introduces a new section 80JJAA in the Income-tax Act, offering tax deductions for Indian companies manufacturing goods. Companies can claim a 30% deduction on additional wages paid to new regular workmen for three assessment years. Deductions are subject to specific conditions, including restrictions on undertakings formed through splitting or reconstruction, and require submission of an accountant's report. The provision defines additional wages, regular workmen, and establishes criteria for qualifying employment.
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