Deduction under section 80-IA(6) requires certificate confirming calculation and reserve utilisation for highway-integral housing activities. An accountant must obtain information from the assessee and certify that the deduction under section 80-IA(6) has been worked out in accordance with the prescribed sub-rule, stating the deduction amount and referring to an annexure. The annexure must detail profits from housing or other activities integral to a highway project; amounts credited to and utilised from a reserve account; the reserve balance; and amounts unutilised for more than three years, with the accountant signing and explaining any negative or qualified answers.
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Deduction under section 80-IA(6) requires certificate confirming calculation and reserve utilisation for highway-integral housing activities.
An accountant must obtain information from the assessee and certify that the deduction under section 80-IA(6) has been worked out in accordance with the prescribed sub-rule, stating the deduction amount and referring to an annexure. The annexure must detail profits from housing or other activities integral to a highway project; amounts credited to and utilised from a reserve account; the reserve balance; and amounts unutilised for more than three years, with the accountant signing and explaining any negative or qualified answers.
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