Section 80-IB amendments expand and align tax exemption references across multiple Income-tax provisions for industrial deductions. The Finance Act, 1999 makes consequential amendments effective 1 April 2000 inserting references to section 80-IB into sections 10A(4)(iii), 10B(4)(iii) and 80A(3) to align concessional tax treatment. It substitutes cross references in the Explanation to section 88(2)(xvi) and revises the Explanation to section 115JA(2) by replacing older references to section 80-IA with references to sub sections (4) and (5) of section 80-IB and by updating the definition and conditional language concerning profits and gains and eligibility.
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Section 80-IB amendments expand and align tax exemption references across multiple Income-tax provisions for industrial deductions.
The Finance Act, 1999 makes consequential amendments effective 1 April 2000 inserting references to section 80-IB into sections 10A(4)(iii), 10B(4)(iii) and 80A(3) to align concessional tax treatment. It substitutes cross references in the Explanation to section 88(2)(xvi) and revises the Explanation to section 115JA(2) by replacing older references to section 80-IA with references to sub sections (4) and (5) of section 80-IB and by updating the definition and conditional language concerning profits and gains and eligibility.
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