<h1>Finance Bill 2014 Extends Section 80-IA Tax Benefits for Power Sector to 2017, Supporting Energy Development Goals.</h1> The Finance (No. 2) Bill, 2014 proposes an extension of the sunset date under section 80-IA of the Income-tax Act for the power sector. Initially, tax deductions were available for power generation, transmission, and modernization activities undertaken by specific deadlines ending on 31st March 2014. The proposed amendment extends this deadline to 31st March 2017, aligning with the end of the 12th Five Year Plan. This change aims to provide additional time for eligible undertakings to commence activities and benefit from tax incentives, effective from 1st April 2015, applicable to the assessment year 2015-16 onward.