Feature film production cost deduction depends on commercial release, exhibition rights, and mandatory book entries under income tax rules. Deduction for feature film production cost is available only where the film is certified for release by the Board of Film Censors and the producer satisfies the commercial exhibition or sale-of-rights conditions. If the film is released for commercial exhibition at least ninety days before year-end, the entire cost of production is deductible; if not, deduction is limited to amounts realised from exhibition or sale of rights and any balance is carried forward. Deduction is also subject to mandatory credit entries in the books and excludes positive print and post-certification advertisement .
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.
Feature film production cost deduction depends on commercial release, exhibition rights, and mandatory book entries under income tax rules.
Deduction for feature film production cost is available only where the film is certified for release by the Board of Film Censors and the producer satisfies the commercial exhibition or sale-of-rights conditions. If the film is released for commercial exhibition at least ninety days before year-end, the entire cost of production is deductible; if not, deduction is limited to amounts realised from exhibition or sale of rights and any balance is carried forward. Deduction is also subject to mandatory credit entries in the books and excludes positive print and post-certification advertisement .
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
