Tax deduction for hospital profits: 100% relief for qualifying new hospitals subject to location, bed-count, construction and audit conditions.

Amendments add a proviso denying section 80-IB deduction to undertakings refining mineral oil if refining begins on or after 1 April 2009, and insert sub-section (11C) allowing a 100% deduction of profits from operating and maintaining qualifying hospitals (outside specified excluded areas) for five consecutive assessment years. Eligibility requires construction and commencement between 1 April 2008 and 31 March 2013, a minimum of 100 beds, compliance with local construction regulations, and submission of a prescribed auditor's report certified by an accountant. The provision defines construction completion by local authority completion certificate, initial assessment year, and lists excluded urban agglomerations and districts.

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