https://www.taxtmi.com/acts?id=4305 A deduction is allowed for profits and gains of a qualifying small-scale industrial undertaking that begins manufacturing or producing in specified rural areas, subject to conditions that it is not a split/reconstructed business (with limited exceptions), does not transfer previously used machinery beyond a de minimis limit, and meets prescribed workforce thresholds. The deduction applies for a continuous ten-year period from commencement, requires an audit report for non-corporate assessees, follows parallel computation rules for industrial undertakings, has priority over certain other deductions, and excludes mining. Rural area and small-scale designation are statutorily defined. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 05 Jun 2025 12:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4305 A deduction is allowed for profits and gains of a qualifying small-scale industrial undertaking that begins manufacturing or producing in specified rural areas, subject to conditions that it is not a split/reconstructed business (with limited exceptions), does not transfer previously used machinery beyond a de minimis limit, and meets prescribed workforce thresholds. The deduction applies for a continuous ten-year period from commencement, requires an audit report for non-corporate assessees, follows parallel computation rules for industrial undertakings, has priority over certain other deductions, and excludes mining. Rural area and small-scale designation are statutorily defined. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4305