https://www.taxtmi.com/news?id=13024 The proposal adds slurry pipelines for iron ore transport and semiconductor wafer fabrication units to the list of specified businesses eligible for the investment linked deduction, effective for operations commencing on or after 1 April 2014. It requires assets on which the deduction is claimed to be used solely for the specified business for eight years, and provides a recapture mechanism treating the previously allowed deduction, less hypothetical depreciation, as business income if the asset is used otherwise; an exception exists for companies declared sick. It also precludes concurrent claims under the SEZ profit linked deduction and the investment linked deduction, with reciprocal amendment effective 1 April 2015. en-us Sun, 13 Jul 2014 16:17:50 +0530 Sun, 13 Jul 2014 16:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13024 The proposal adds slurry pipelines for iron ore transport and semiconductor wafer fabrication units to the list of specified businesses eligible for the investment linked deduction, effective for operations commencing on or after 1 April 2014. It requires assets on which the deduction is claimed to be used solely for the specified business for eight years, and provides a recapture mechanism treating the previously allowed deduction, less hypothetical depreciation, as business income if the asset is used otherwise; an exception exists for companies declared sick. It also precludes concurrent claims under the SEZ profit linked deduction and the investment linked deduction, with reciprocal amendment effective 1 April 2015. News - Sun, 13 Jul 2014 16:17:50 +0530 https://www.taxtmi.com/news?id=13024