Investment-linked tax deduction for undertakings in special category states receives phased exemption and limited overlap with other deductions. Section 80-IC grants a deduction from profits and gains to eligible undertakings in specified special category States and notified industrial locations, ... Summary
Investment-linked tax deduction for undertakings in special category states receives phased exemption and limited overlap with other deductions.
Section 80-IC grants a deduction from profits and gains to eligible undertakings in specified special category States and notified industrial locations, subject to commencement and substantial expansion timing, exclusions for transfers of used plant or reconstructed businesses, staged full and reduced deduction periods depending on location, prohibition of concurrent deductions under specified provisions, and an overall cap so the aggregate permitted deduction period does not exceed ten assessment years.
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