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of <h1>Section 32(1)(iia) Report: Certifying Deductions for New Plant & Machinery, Requires Chartered Accountant's Examination.</h1> This requirements for a report under Section 32(1)(iia) of the Income-tax Act, 1961, related to deductions for new plant and machinery. It requires an examination of the accounts and records of the assessee's business to determine the expenditure on acquiring and installing new machinery. The report certifies the deduction amounts under specific provisions for new industrial undertakings and substantial expansions of existing ones. It mandates certification by a Chartered Accountant or a qualified auditor, with details provided in annexures. The report must state reasons for any negative or qualified responses.
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