Tax deduction eligibility for hospital operators expanded to provide full deduction for qualifying new hospitals outside specified urban areas. An additional proviso conditions deduction under section 80-IB for undertakings starting mineral oil refining on or after 1 April 2009 on public-sector majority ownership, Central Government notification by 31 May 2008, and commencement of refining by 31 March 2012. A new sub-section (11C) provides a hundred per cent deduction for five consecutive assessment years for qualifying hospitals (constructed and starting within a prescribed period, with at least one hundred beds, compliant with local regulations, and supported by a prescribed audit report), and defines construction date, initial assessment year and excluded areas.
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Provisions expressly mentioned in the judgment/order text.
Tax deduction eligibility for hospital operators expanded to provide full deduction for qualifying new hospitals outside specified urban areas.
An additional proviso conditions deduction under section 80-IB for undertakings starting mineral oil refining on or after 1 April 2009 on public-sector majority ownership, Central Government notification by 31 May 2008, and commencement of refining by 31 March 2012. A new sub-section (11C) provides a hundred per cent deduction for five consecutive assessment years for qualifying hospitals (constructed and starting within a prescribed period, with at least one hundred beds, compliant with local regulations, and supported by a prescribed audit report), and defines construction date, initial assessment year and excluded areas.
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