Deduction for industrial undertakings and specified projects depends on eligibility conditions, time limits, and linked profits under the earlier tax framework.

Deduction is available in computing total income in respect of profits and gains derived from specified industrial undertakings and allied businesses, subject to the conditions and time limits linked to the repealed section 80-IB. The amount of deduction and the period for which it is available are determined by reference to the earlier section 80-IB framework, including deductions for manufacturing undertakings, mineral oil and natural gas projects, approved housing projects, and qualifying hospitals, each subject to prescribed eligibility conditions and compliance requirements.

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