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of <h1>Definition of 'Capital Employed' in Section 35D(3) of Income Tax Act: Share Capital, Debentures, Long-term Borrowings</h1> 'Capital employed in the business of the company,' as defined in section 35D(3) of the Income Tax Act 1961, refers to the total of issued share capital, debentures, and long-term borrowings. For a new business, it includes these elements as of the last day of the previous year when the business starts. For business extensions or new units, it includes these elements as of the last day of the previous year when the extension is completed or the new unit begins operations, provided they are related to the extension or new unit setup.
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