Deduction for biodegradable waste businesses: full tax deduction for qualifying profits from specified processing activities starting at commencement. A deduction is allowed where gross total income includes profits and gains from the business of collecting and processing or treating biodegradable waste for generating power, producing bio-fertilizers, bio-pesticides or other biological agents, producing bio-gas, or making pellets or briquettes for fuel or organic manure; a deduction equal to the whole amount of such profits and gains is permitted for a consecutive period beginning with the tax year in which the business commences.
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.
Deduction for biodegradable waste businesses: full tax deduction for qualifying profits from specified processing activities starting at commencement.
A deduction is allowed where gross total income includes profits and gains from the business of collecting and processing or treating biodegradable waste for generating power, producing bio-fertilizers, bio-pesticides or other biological agents, producing bio-gas, or making pellets or briquettes for fuel or organic manure; a deduction equal to the whole amount of such profits and gains is permitted for a consecutive period beginning with the tax year in which the business commences.
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