https://www.taxtmi.com/acts?id=10547 Section 80-IB is amended to substitute sub-section (9) so that undertakings producing mineral oil or refining mineral oil (subject to a commencement cutoff) are eligible for a 100% profits deduction for seven consecutive assessment years, with all blocks licensed under a single contract treated as a single undertaking; a new clause extends eligibility to natural gas production in specified licensed blocks commencing on or after the stated date. Sub-section (10) is amended to restrict multiple allotments in housing projects and to exclude works-contract projects from those restrictions, with specified retrospective and prospective operative dates. en-us Tue, 07 Jul 2009 15:57:35 +0530 Tue, 07 Jul 2009 15:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10547 Section 80-IB is amended to substitute sub-section (9) so that undertakings producing mineral oil or refining mineral oil (subject to a commencement cutoff) are eligible for a 100% profits deduction for seven consecutive assessment years, with all blocks licensed under a single contract treated as a single undertaking; a new clause extends eligibility to natural gas production in specified licensed blocks commencing on or after the stated date. Sub-section (10) is amended to restrict multiple allotments in housing projects and to exclude works-contract projects from those restrictions, with specified retrospective and prospective operative dates. Act-Rules Bills Tue, 07 Jul 2009 15:57:35 +0530 https://www.taxtmi.com/acts?id=10547