Hotel business deduction under section 80-ID: 100% profit relief for eligible World Heritage Site hotels, subject to strict conditions. Deduction under section 80-ID provides 100% of the profits and gains from an eligible hotel business for five consecutive assessment years, where the hotel is a 2-star, 3-star or 4-star hotel located in a specified district having a World Heritage Site. The deduction is subject to construction and commencement timelines, non-formation by splitting up or transfer of previously used assets, audit report compliance, claim in the return of income, and filing the return within the due date. No additional deduction is allowed under other Chapter VIA provisions or section 10AA for the same profits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Hotel business deduction under section 80-ID: 100% profit relief for eligible World Heritage Site hotels, subject to strict conditions.
Deduction under section 80-ID provides 100% of the profits and gains from an eligible hotel business for five consecutive assessment years, where the hotel is a 2-star, 3-star or 4-star hotel located in a specified district having a World Heritage Site. The deduction is subject to construction and commencement timelines, non-formation by splitting up or transfer of previously used assets, audit report compliance, claim in the return of income, and filing the return within the due date. No additional deduction is allowed under other Chapter VIA provisions or section 10AA for the same profits.
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